This measure is part of the actions taken to respond quickly to potential risks in the activities of virtual asset service providers. The main goal is to protect the rights of clients and other consumers, which was prompted by multiple 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 Regulation on Virtual Asset Exchange Operators, approved by the Resolution of the Cabinet of Ministers of the Kyrgyz Republic No. 514 dated September 16, 2022;
— as well as based on paragraphs 1 and 4 of part 2 of Article 31 of the same law.
By the order of the Financial Supervision dated December 29, 2025, No. 727-p, licenses were revoked from the following operators:
The list of operators whose licenses were annulled:
LLC "ESEIKS" — series VA No. 0119, registration No. 104 dated July 23, 2024 (according to the Ministry of Justice, the head and founder is Valeria Olegovna Cherkasova);
LLC "Red Exchange" — series VA No. 0115, registration No. 100 dated July 12, 2024 (the head and founder is Alexander Sergeevich Rozhkov);
LLC "Bestex" — series VA No. 0129, registration No. 113 dated August 29, 2024 (the head and founder is Anton Vladimirovich Dochkin);
LLC "T Store" — series VA No. 0020, registration No. 17 dated March 25, 2023 (the head and founder is Tatyana Petrova);
LLC "Liberty Exchange Japan" — series VA No. 0041, registration No. 37 dated August 2, 2023 (the head and founder is Masaru Akai, among the founders is also 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 information and reports on transactions with virtual assets within the established deadlines and in the manner determined by the authorized body.
According to paragraph 36 of the Regulation, virtual asset exchange operators must provide operational reporting to the authorized body on a monthly basis.
In accordance with paragraph 37 of the Regulation, operators are required to provide financial reporting quarterly, prepared in accordance with international financial reporting standards (IFRS).
The comprehensive set of financial reporting includes:
a) statement of financial position at the end of the reporting period;
b) statement of profit or loss and other comprehensive income;
c) statement of changes in equity;
d) statement of cash flows;
e) notes containing the main provisions of the accounting policy and explanatory information.
