Kyrgyzstan introduces changes in sphere of virtual assets turnover

The resolution “On Amendments to Some Decisions of the Cabinet of Ministers in the field of turnover of virtual assets” was adopted. The corresponding decision was signed by Chairman of the Cabinet of Ministers Adylbek Kasymaliev.

The document is designed to stimulate the development of the virtual assets market and protect the rights/interests of investors.

The Resolution is aimed at achieving such objectives as creating a favorable environment for the inflow of investments into the economy, correcting inaccuracies and gaps in the legislation in the field of virtual assets turnover, protecting the rights/interests of investors, regulating the issues of preventing the use of virtual assets in money laundering and terrorism financing, and stimulating further development of the virtual assets market.

The key changes include increased requirements for virtual asset trading operators, updates in the activities of virtual asset exchange operators, amendments to the Regulation on the Issuance of Virtual Assets, and changes to the procedure for registration and issuance of certificates for mining activities.