According to Cabinet Resolution No. 625, adopted on September 30, 2025, amendments have been made to the existing regulations concerning the circulation of virtual assets. These measures aim to enhance the investment attractiveness of the sector, minimize risks associated with money laundering and terrorism financing, and protect the rights of clients.
Among the key innovations are:
- mandatory AML/KYT checks of transactions through accredited providers;
- identification and verification of clients, including the possibility of remote procedures;
- prohibition of operations with anonymous wallets, high-risk assets, NFTs, and prepaid cards from foreign banks;
- coordination with the regulator of key executives of service providers (directors, accountants, compliance officers);
- the requirement for companies to have internal policies and procedures in the area of AML/CFT, as well as mandatory storage of documentation for a minimum of five years;
- a ban for residents of Kyrgyzstan on conducting operations through unlicensed virtual asset service providers.
Special attention is given to the backing of tokens. According to the new rules, the issuance of unsecured virtual assets is prohibited; only those assets that have reliable collateral, such as government securities, shares of listed companies, rights to develop deposits, gold, or cash, can be registered. An independent assessment of the collateral, mandatory registration of the collateral, and the appointment of an independent manager in the event of the issuer's default are also provided.
To streamline the mining process, a Unified State System of Collective Mining is being introduced, within which the capacities of participants will be consolidated, and the mined assets will be sold through licensed operators. Miners will be required to provide operational and financial reporting, as well as use a personal account in the state system.
December 2024 marked the launch of the state digital platform RUNEXKG (SKK "Runex") as part of a plan to reduce risks in the field of virtual assets. The platform provides:
- registration, monitoring, and analysis of the activities of all virtual asset service providers;
- control of operations and compliance with legislation, including mining;
- creation and functioning of a mining pool;
- verification of transactions for compliance with AML/KYC requirements and preparation of analytical reports for government authorities.
The State Financial Supervision emphasizes that the introduction of new requirements and the launch of the RUNEXKG platform are aimed at legalizing the crypto sector, strengthening investor confidence, and aligning national regulation with international standards, including FATF recommendations.
