According to this document, existing companies providing virtual asset services (including cryptocurrency exchanges) must bring their minimum charter capital into compliance with the standards set by the Cabinet of Ministers' resolution No. 514 dated September 16, 2022 by March 1, 2026:
The charter capital of virtual asset trading operators (cryptocurrency exchanges) must be formed exclusively in the national currency of the Kyrgyz Republic, in non-cash form, and solely from the funds of the founders. The minimum amount of charter capital is 10 billion soms.
At the same time, paragraph 2 of the resolution dated March 6, 2025, No. 117, which previously contained alternative transitional conditions for market participants, is rendered invalid.
This resolution comes into force on January 1, 2026.
The changes made are part of a targeted state policy for the development and control of the virtual assets market.
Regulation in this area will be carried out by the Service for Regulation and Supervision of the Financial Market, which will be responsible for the registration of virtual asset emissions, certification of miners, maintaining registries, and establishing operational requirements for market participants.
The government hopes that the new requirements will contribute to increasing the financial stability of crypto providers and the transparency of the sector, as well as strengthen investor confidence in the virtual assets market in Kyrgyzstan.
Regulation
REGULATION
on the activities of virtual asset trading operators (cryptocurrency exchanges) and maintaining the Registry of virtual asset trading operators (cryptocurrency exchanges)
(With amendments made by the resolutions of the Cabinet of Ministers of the Kyrgyz Republic dated March 6, 2025, No. 117, September 3, 2025, No. 556, September 30, 2025, No. 625)
1. General provisions
1. This Regulation is developed in accordance with the laws of the Kyrgyz Republic "On Virtual Assets." It establishes mandatory requirements for virtual asset trading operators (cryptocurrency exchanges) in the country.
The activities of virtual asset trading operators (cryptocurrency exchanges) are subject to licensing and state registration in the Registry of virtual asset trading operators (cryptocurrency exchanges). The registration procedure is defined by this Regulation.
2. Key definitions
2. The following terms are used in this Regulation:
Beneficial owner - an individual who ultimately owns or controls the virtual asset trading operator (cryptocurrency exchange);
client - an individual or legal entity that receives services from the virtual asset trading operator (cryptocurrency exchange);
percentage scoring - a quantitative assessment of the risk of a virtual asset based on the analysis of its behavior and operations;
clearing - the process of determining mutual obligations and their offset in transactions with virtual assets;
price manipulation - actions that affect the supply and demand for virtual assets with the aim of changing their market price;
settlement bank - a commercial bank with the appropriate license operating in the Kyrgyz Republic;
trading in virtual assets - buying and selling transactions of virtual assets on the platform of the virtual asset trading operator (cryptocurrency exchange);
trading participants - clients allowed to conduct transactions with virtual assets;
authorized body - a state body responsible for regulating virtual assets;
electronic platform - an information system where trading and transactions with virtual assets take place;
virtual asset trading operator (cryptocurrency exchange) - a licensed organization providing services for conducting transactions with virtual assets;
centralized operator - an organizer that stores virtual assets in its accounts;
decentralized operator - provides services through a blockchain network.
Other concepts are used in accordance with the Law of the Kyrgyz Republic "On Virtual Assets."
(With amendments made by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 30, 2025, No. 625)
3. Structure of the virtual asset trading operator
3. The structure of the centralized operator must include functional divisions, including:
- listing;
- trading;
- information technology and security;
- clearing and client identification;
- internal control.
4. The operator may have other divisions.
4. Requirements for the operator
5. An operator storing client assets must maintain separate accounting of financial assets.
(With amendments made by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 30, 2025, No. 625)
6. The operator is obliged to monitor transactions with virtual assets and take measures in case of violations.
7. Information about violations must be stored for at least 5 years.
8. Upon discovering crimes, the operator is obliged to notify the authorized bodies.
9. The operator must ensure the transparency of transactions.
10. The operator is obliged to have the technical infrastructure for storing and processing data necessary for transactions.
11. The trading system must provide the ability to conduct all types of transactions.
Decentralized operators do not have centralized management and do not require registration for trading.
Trading is conducted through virtual wallets that do not store funds.
(With amendments made by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 30, 2025, No. 625)
The operator must ensure the uninterrupted operation of its software.
The operator is obliged to develop rules to ensure information security and protect consumer rights.
Operators under the supervision of the authorized body must comply with legislation on combating the financing of terrorism and the legalization of criminal proceeds.
The centralized operator must store information about virtual asset transfers and provide it upon request.
12. The operator must have a minimum charter capital of 10 billion soms, formed in the national currency.
(With amendments made by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated March 6, 2025, No. 117)
13. To obtain a license, the operator must provide a number of documents to the authorized body.
(With amendments made by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 30, 2025, No. 625)
14. The operator is obliged to submit regular financial reports to the authorized body.
(With amendments made by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 30, 2025, No. 625)
Appendices contain forms of applications, questionnaires, and other necessary documents.
