According to Zarylbek uulu, the current legislation lacks clear provisions regulating the use of electronic money after the death of their owner, as well as the procedure for terminating transactions and transferring funds to heirs.
In this regard, it is proposed to amend Article 22 of the Civil Code, adding that objects of civil rights include not only things and money but also virtual assets, digital currencies, as well as other property rights and services.
Additionally, norms concerning the actions of electronic money issuers in the event of inquiries from a notary or heirs after the owner's death will be added to the law "On the Payment System of the Kyrgyz Republic."
The changes also affect the Law "On Banks and Banking Activities," which will be amended to include provisions regarding the provision of information by banks about deposits, electronic funds, and other assets belonging to the deceased.
Deputy Chotonov asked how the situation would be resolved if the heir does not know which banks the deceased had electronic funds in. "Will he have to contact all banks?" he clarified.
The Deputy Minister responded that the notary would be able to send requests when opening the inheritance case.
"And if no heir shows interest, will the funds remain in the bank?" the deputy inquired.The Deputy Minister confirmed that the funds would remain in the deceased's electronic wallets.
In response, Chotonov suggested developing a mechanism that would allow these funds to be transferred to the state after 5-10 years if no claims are made to them.
As a result of the discussion, the committee members supported the proposed draft.
