The agency emphasizes that in recent years there has been an increase in illegal lottery and binary options activities on the internet. These actions are carried out through various online platforms, including social networks and messengers, which are often disguised as advertising campaigns or charitable events.
Organizers of such events attract the attention of citizens with promises of winning cars, large sums of money, or valuable prizes. However, these events do not comply with the legislation of the Kyrgyz Republic.Illegal activities in the field of lotteries and binary options on the internet pose a serious threat to the economy and society, as well as raise questions regarding national security and the fight against money laundering. In this regard, the Ministry of Economy insists on the need for additional measures to strengthen control, curb illegal activities, and improve the financial literacy of the population.
As part of the proposals, the initiator of the law suggests amending the Criminal Code by adding a provision that will punish the organization or conduct of a lottery without the permission of the authorized body. For such actions, especially if committed by a person who has already been subjected to administrative penalties for a similar offense, a fine of 500 calculation indicators (which amounts to 50,000 soms) is provided for individuals and 1,000 calculation indicators (100,000 soms) for legal entities.
If this act is committed by an organized group or involves children, the punishment may be imprisonment for a term of 3 to 5 years.
Note. This article does not apply to promotional lotteries.
Violations by organizers of promotional lotteries of the legislation in this area will also entail liability under the Code of Offenses.
In addition, a new Article 151 will be added to the Law "On Gambling Activities in the Kyrgyz Republic":
1. The following is prohibited on the territory of the country:
- the organization and conduct of gambling in the form of binary options;
- advertising, distribution, and promotion of binary options;
- accepting monetary funds and virtual assets from citizens and residents of the Kyrgyz Republic for participation in binary options;
- brokerage activities aimed at involving citizens in binary options.
3. Banks, payment organizations, and virtual asset service providers must block transactions related to binary options, including transfers and exchanges of monetary funds and virtual assets, based on a list provided by the authorized body, and take measures to prevent such transactions.
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