As Zarylbek uulu noted, the current legislation lacks specific provisions that regulate the legal status of electronic money in the event of the owner's death, as well as the procedure for terminating transactions and transferring funds to heirs.
In this regard, the Ministry of Justice proposes to amend Article 22 of the Civil Code, adding that objects of civil rights include not only things, money, and securities, but also virtual assets, digital currencies, as well as other property rights and benefits.
Furthermore, it is planned to supplement the Law "On the Payment System of the Kyrgyz Republic" with provisions that regulate the actions of electronic money issuers when receiving requests from notaries or heirs regarding the death of the owner of electronic funds.
The changes also pertain to the Law "On Banks and Banking Activities," which will clarify the procedure for banks to provide information about deposits, electronic money, and other objects of civil rights of the deceased.
Deputy Meder Chotonov asked how an heir would act if they do not know in which banks the deceased had electronic wallets. "Will they have to contact all banks?" he clarified.
The deputy minister replied that the notary would send such requests when opening the inheritance case.
"And if no heir comes forward, will the funds remain in the bank?" the deputy inquired.Zarylbek uulu noted that the funds would remain in the deceased's electronic wallets.
In response, Chotonov suggested developing a mechanism whereby unclaimed funds could be transferred to the state after 5-10 years.
As a result of the discussion, committee members supported the proposed draft.
