MCN Coin Denied State Registration and Excluded from Crypto Exchanges
The Service for Regulation and Supervision over the Financial Market in Bishkek has issued a warning to citizens regarding investing in the virtual asset MCN Coin. According to the agency, MCN Coin has not undergone state registration and is not included in the relevant registries.
Birik Turan LLC had applied for the registration of MCN Coin issuance in the amount of 12 million soms since March 2024, but the request was denied due to non-compliance with Kyrgyzstan’s virtual asset market legislation. As a result of this, the Service for Regulation and Supervision over the Financial Market requested the Ministry of Internal Affairs to take legal action against the organizers of MCN Coin.
An investigation into the issue and circulation of MCN Coin has been initiated by the Ministry of Internal Affairs, and the Department of Internal Affairs of the Oktyabrsky District of Bishkek has contacted the regulatory agency for clarification on the legality of an incentive lottery associated with MCN Coin.
The Service for Regulation and Supervision over the Financial Market has provided all necessary information and documents to the State Committee for National Security for further investigation. Currently, the investigation into activities related to MCN Coin is ongoing, and measures are being taken to ensure compliance with the law. It is advised for citizens to exercise caution and refrain from investing in MCN Coin until the issue is resolved.
