Sadyr Japarov signed a law on changes in the field of virtual assets

The President of the Kyrgyz Republic, Sadyr Japarov, has approved a new law that amends the existing law on virtual assets. This law was approved by the Jogorku Kenesh on December 24, 2025.

The main goal of this legislation is to improve state regulation in the field of virtual asset services, as well as to enhance transparency and stability in the market for these assets in the country.
The new law more precisely defines terms such as "stablecoin" and introduces new concepts such as "Real World Asset Token" (RWA Token), "state mining," and "state cryptocurrency reserve."

The law also grants the President the authority to establish a special regulatory regime in certain territories of the country for testing legal regulation in the field of virtual assets related to new services and technologies. This will be implemented through a so-called "regulatory sandbox."

The authorized body responsible for policy and regulation in this area will have the right to license and issue permits within this special regime. Licenses will have a limited duration, will be personal, and will not be transferable to third parties.

Legal entities wishing to obtain licenses to provide services in the field of virtual assets must submit an application to the authorized body.

Additionally, the law requires all those engaged in mining to register in accordance with established norms. Individual entrepreneurs and legal entities that have registered will be able to start mining upon receiving the corresponding certificate.