This decision was made to promptly respond to the risks arising from the activities of virtual asset service providers. It aims to protect the rights of clients and other consumers, which became possible due to identified violations:
- part 2 of article 12 of the Law of the Kyrgyz Republic "On Virtual Assets";
- paragraphs 36 and 37 of chapter 9 of the Regulations on the Work of Virtual Asset Exchange Operators, approved by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 16, 2022, No. 514;
- paragraphs 1 and 4 of part 2 of article 31 of the same law.
Based on the order of the Financial Supervision dated December 29, 2025, No. 727-p, the licenses of the following virtual asset exchange operators were revoked:
LLC "ESEIKS" — series BA No. 0119, registration No. 104 dated July 23, 2024 (founder and director — Cherkasova Valeria Olegovna);
LLC "Red Exchange" — series BA No. 0115, registration No. 100 dated July 12, 2024 (founder and director — Rozhkov Alexander Sergeevich);
LLC "Bestex" — series BA No. 0129, registration No. 113 dated August 29, 2024 (founder and director — Dochkin Anton Vladimirovich);
LLC "T Store" — series BA No. 0020, registration No. 17 dated March 25, 2023 (founder and director — Petrova Tatyana);
LLC "Liberty Exchange Japan" — series BA No. 0041, registration No. 37 dated August 2, 2023 (founder and director — Akai Masaru; also among the founders — JSC "Titsuridzu");
According to part 2 of article 12 of the Law of the Kyrgyz Republic "On Virtual Assets," both legal entities and individuals are required to:
- comply with the legislative norms of the Kyrgyz Republic in the field of virtual asset circulation;
- provide reports and data on conducted operations with virtual assets within the established timeframe, as determined by the authorized body.
According to paragraph 36 of the Regulations, virtual asset exchange operators must submit operational reports to the authorized body on a monthly basis.
Paragraph 37 of the Regulations obliges operators to provide financial reports quarterly, prepared in accordance with International Financial Reporting Standards (IFRS).
The financial reports include the following documents:
a) balance sheet at the end of the reporting period;
b) income statement, as well as other components of comprehensive financial results;
c) statement of changes in equity;
d) cash flow statement;
e) notes disclosing the main provisions of the accounting policy and additional information.
