President of the Kyrgyz Republic Sadyr Japarov has signed a law concerning changes in the regulation of virtual assets, which was approved by the Jogorku Kenesh on December 24, 2025.
The purpose of this law is to improve state control in the field of virtual asset services, as well as to create conditions for stability and transparency in the virtual asset market in Kyrgyzstan.
The new law clarifies the concept of "stablecoin" and introduces new terms, including "Real World Asset Token" (RWA Token), "state mining," and "state cryptocurrency reserve."
Furthermore, the law grants the President of the Kyrgyz Republic the right to introduce pilot regulation for a certain period under a special regulatory regime to test the legal aspects of public relations related to innovative technologies and services in the field of virtual assets.
The authorized body responsible for implementing policy and regulation in the field of virtual assets will handle licensing and issuing permits within this special regime. The license or permit will have a limited validity period, will be personal (non-transferable), and cannot be transferred to third parties.
Legal entities wishing to obtain a license for providing services in the field of virtual assets must apply to the authorized body with the appropriate application.
The law also requires individuals engaged in mining to register in accordance with established norms. Individual entrepreneurs and legal entities that successfully complete registration will be able to engage in mining from the moment they receive their certificate.
