In the department, it is emphasized that in recent years there has been an increase in cases of illegal lottery operations and binary options conducted via the internet. These activities are usually carried out through various online platforms, such as social networks and messengers, often disguised as promotional campaigns or charitable events.
Organizers attract the attention of citizens by promising them expensive cars, large cash prizes, or other valuable gifts. However, in fact, these events do not comply with the requirements of the legislation of the Kyrgyz Republic.Illegal lotteries and binary options pose a threat that affects not only the economy and social sphere but also state security issues, as well as the fight against money laundering. Therefore, it is necessary to tighten state control and improve financial literacy among the population, as indicated by the Ministry of Economy.
In this regard, it is proposed to supplement the Criminal Code with provisions stating that the organization or conduct of lotteries without the appropriate permission from authorized bodies, including the use of communication technologies, will be punishable by a fine for individuals in the amount of 500 calculation indicators (50,000 soms), and for legal entities — 1,000 calculation indicators (100,000 soms).
The same actions carried out by an organized group or using official position, as well as involving minors, may result in imprisonment for a term of 3 to 5 years.
Note. This article does not apply to stimulating lotteries.
Failure by organizers to comply with the requirements of the legislation on lotteries will result in liability in accordance with the Code of Offenses.
It is also proposed to add a new Article 151 to the Law "On Gambling Activities in the Kyrgyz Republic":
1. The following are prohibited on the territory of the Kyrgyz Republic:
- the organization and conduct of gambling in the form of binary options;
- advertising, distribution, and promotion of binary options;
- accepting funds and virtual assets from citizens and residents of the Kyrgyz Republic for participation in binary options;
- brokerage activities to involve citizens in binary options.
3. Banks, payment organizations, and virtual asset service providers are required to block operations related to binary options, including transfers, exchanges, and storage of funds, based on a list provided by the authorized body, as well as take measures to prevent such operations.
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