11.09.2025 02:25

Based on internet sources:

Kyrgyzstan, increasingly relevant in Central Asia's burgeoning cryptocurrency landscape, has taken a significant step by approving legislation aimed at creating a national cryptocurrency reserve while simultaneously fostering expansion within the digital asset sector. Parliamentarians in Kyrgyzstan swiftly adopted amendments to the "On Virtual Assets" bill, formally defining concepts such as "state crypto reserve" and "state mining," according to an announcement made Wednesday.

Introduced by Economy and Commerce Minister Bakyt Sydykov, the legislation comprehensively addresses various facets of cryptocurrency adoption in Kyrgyzstan, particularly outlining a regulatory structure for stablecoins, tokenized real-world assets (RWAs), and government-operated industry initiatives. Reportedly, Minister Sydykov stated earlier in the week during a committee session that a crypto reserve would empower the government to amass its own cryptocurrency assets through activities like crypto mining, RWA tokenization, and the issuance of fiat-backed stablecoins.

Sydykov elaborated that the establishment of a state crypto reserve is intended to fortify Kyrgyzstan's financial stability by diversifying assets and implementing innovative accumulation methods. Furthermore, he clarified that governmental entities would be subject to the same mining tariffs as other operations, addressing anxieties pertaining to the country's energy resources.

After successfully passing through parliamentary stages, the proposed bill now awaits the signature of Kyrgyzstan's President, Sadyr Japarov, who had previously sanctioned legislation pertaining to a central bank digital currency (CBDC).