The agency emphasizes that in recent years there has been a constant increase in cases of illegal lottery organization and binary options conducted via the internet. These activities are often disguised as promotional campaigns or charitable events on various online platforms, including social networks and messengers.
Organizers attract citizens' attention by promising them prizes of expensive cars, significant sums of money, or other valuable prizes. However, the actual conditions of such events do not comply with the legislation of the Kyrgyz Republic.Internet lotteries and binary options pose a serious threat to the economy and society, as well as raise questions about national security and the fight against money laundering. Therefore, the Ministry of Economy believes that additional measures are necessary to enhance control, curb illegal activities, and improve financial literacy among citizens.
Thus, the proposed bill suggests amending the Criminal Code with a provision stating that the organization or conduct of a lottery without obtaining permission from the authorized state body, including the use of information and communication technologies, will be punishable by fines: 500 calculation indicators (50,000 soms) for individuals and 1,000 calculation indicators (100,000 soms) for legal entities.
Furthermore, participation in similar actions carried out by an organized group or criminal community, as well as using official positions or involving children, may result in imprisonment for a term of 3 to 5 years.
Note. This article does not concern promotional lotteries.
Violations related to the requirements of lottery legislation when organizing promotional lotteries will be subject to liability under the Code of Offenses.
Additionally, the law "On Gambling Activities in the Kyrgyz Republic" will be supplemented by Article 151:
1. It is prohibited:
- to organize and conduct gambling in the format of binary options;
- to advertise and promote binary options;
- to accept monetary funds and virtual assets from citizens and residents of the Kyrgyz Republic for participation in binary options;
- to mediate in attracting citizens to participate in binary options.
3. Banks and organizations working with virtual assets are required to block operations related to binary options based on a list provided by the authorized body, as well as to take measures to prevent such operations.
Photo on the main page is illustrative: youtube.com.
