Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges...
The National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry. They are about to introduce two drafts to regulate the country’s exchanges that aim to combat terrorism, money laundering, and protecting consumers. Kyrgyzstan Central Bank Set to Introduce Two Crypto Bills to Combat Terrorism Financing and Fraud According to Sputnik Kyrgyzstan, the central bank’s bills hope to add a series of anti-money laundering (AML) and combating the financing of terrorism (CFT) measures that should force local crypto exchanges to report their....
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Kyrgyzstan's central bank wants to regulate cryptocurrency – licensing exchanges and barring its use in payments.
Amid the growing popularity of cryptocurrencies in Kyrgyzstan, the country’s central bank has reminded citizens about the risks associated with the digital assets. The monetary authority also warned that crypto payments are illegal in the Kyrgyz Republic.
National Bank of Kyrgyzstan Urges Caution With Cryptocurrency
Cryptocurrencies and other virtual assets are increasingly spreading in Kyrgyzstan, the nation’s central bank recently noted. The regulator reminded that using them to buy or sell goods and services is still against the law, with the Kyrgyzstani som....
The central bank of The Kyrgyz Republic has drafted regulations that recognize cryptocurrency exchanges in the country for the first time. Kyrgyzstan’s central bank has completed the drafting of two bills designed to recognize and regulate the country’s emerging crypto sector.According to an official announcement, the National Bank of the Kyrgyz Republic has opened up the two bills, "On the Processing of Cryptocurrencies" and "On amendments to legislative acts in the field of virtual assets," to public discussion.Interested parties have until Feb. 21 to submit their comments and concerns....
The central bank of the Kyrgyz Republic wants to provide crypto investors with the same level of protection that is already in place in traditional finance. The National Bank of the Kyrgyz Republic, or NBKR, is reportedly planning to introduce a licensing regime for cryptocurrency exchanges in a move to protect local investors.NBKR chairman Tolkunbek Abdygulov announced that the country’s central bank is planning to start regulating exchange operations involving cryptocurrencies like Bitcoin (BTC), local economic publication Tazabek reports Feb. 12.Abdygulov said that the regulatory....
Solid crypto regulations would be a long time coming for Kyrgyzstan. The central bank for the Central Asian country of Kyrgyzstan is working on a draft law to regulate the cryptocurrency industry in the country.According to an announcement on Nov. 13, the National Bank of the Kyrgyz Republic is developing a draft law that would regulate cryptocurrency exchanges in consultation with industry stakeholders.The bank stated that the draft law would regulate the sale and purchase of cryptocurrencies with the aim of tackling fraudulent cryptocurrency schemes and financial crimes, as well as....