While Kyrgyzstan recognizes virtual assets as objects of civil rights under the Law of the Kyrgyz Republic “On Digital Assets and Digital Currency” No. 28 (March 15, 2022), these assets “are not a means of payment, currency, or security within the territory of the Kyrgyz Republic” (2).
The National Bank of the Kyrgyz Republic has repeatedly warned that only the som is legal tender domestically, and using cryptocurrencies for payments “will be a violation of the law of our state” (1).
"At the same time we should not forget that under the legislation of the Kyrgyz Republic the sole legal tender on the territory of our country is the national currency of Kyrgyzstan 'som'. And the use of 'virtual currency', bitcoins, in particular, as a means of payment in the Kyrgyz Republic will be a violation of the law of our state." (1)
Despite this, the 2022 law also establishes that virtual asset service providers must obtain a licence—recognizing the right of individuals and entities to own, trade, and custody cryptocurrencies under regulated conditions (2).
Source:
https://www.nbkr.kg/contout.jsp?item=2565&lang=ENG&material=50913
https://www.linkedin.com/pulse/legal-status-cryptocurrency-transactions-kyrgyz-bakhtyiar-bakas-uulu-pvdjf
Last updated: 16-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
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