Bishkek, Jan. 20, 2026. /Kabar/. President Sadyr Zhaparov signed the Law "on Amendments to the Law of the Kyrgyz Republic 'On Virtual Assets'." The law was adopted by the Jogorku Kenesh on December 24, 2025.
The law was adopted to improve the effectiveness of state regulation of virtual asset service providers and to ensure the stability and transparency of the virtual asset market in the Kyrgyz Republic.
The law clarifies the definition of "stablecoin" and adds definitions for such terms as "token backed by a real asset (Real World Asset Token - RWA Token)," "state mining," and "state cryptocurrency reserve."
The law stipulates that, in order to test legal regulation of public relations in the field of virtual assets related to the implementation of innovative services/technologies, the President of the Kyrgyz Republic has the right to establish pilot regulation within a specific territory of the Kyrgyz Republic for a specified period within a special regulatory regime (within the regulatory sandbox).
It also stipulates that the authorized body for the implementation of policy and regulation in the field of virtual assets shall license and issue permits within the special regulatory regime in accordance with the objectives and types of activities necessary for its implementation. The license/permit has a limited validity period, is personal (inalienable), and is not transferable to third parties.
To obtain a license to operate as a virtual asset service provider, legal entities must submit an application to the authorized body for a license.
Furthermore, the law establishes a provision requiring persons engaged in mining to register in accordance with the procedure established by this Law and other regulatory legal acts of the Kyrgyz Republic. Individual entrepreneurs and legal entities who have completed registration have the right to conduct mining from the date of receiving the certificate.