Kyrgyzstan introduces state crypto reserve concept in new bill
Kyrgyz lawmakers passed amendments to the “On Virtual Assets” bill in three readings, defining terms like a state crypto reserve and state crypto mining.
Kyrgyzstan, a key emerging player in Central Asia’s crypto market, has advanced a bill to establish a state cryptocurrency reserve and support the growth of the wider digital asset industry.
Kyrgyz lawmakers have passed amendments to a bill “On virtual assets” in three readings at once, officially cementing terms like “state crypto reserve” and “state mining,” the parliament announced on Wednesday.
Presented by Economy and Commerce Minister Bakyt Sydykov, the bill addresses multiple aspects of Kyrgyzstan’s crypto adoption, including establishing a legal framework for the issuance and circulation of stablecoins, tokenized real-world assets (RWAs) and state-run industry operations.