Parliament Approves Introduction of Digital Currency in Kyrgyzstan’s Zhogorku Kenesh
Bishkek – The Zhogorku Kenesh (Parliament of Kyrgyzstan) has recently passed a bill in the third reading regarding the legal status of the national digital currency, known as the “digital som.”
The bill, along with amendments to the constitutional Law “On the National Bank of the Kyrgyz Republic” and other legislative acts, was developed to pave the way for the launch of the digital som and establish a legal framework and status for it.
Those behind the initiative emphasized the importance of selecting the right technical platform and successfully completing testing and pilot phases for the digital som prototype before it can be officially launched.
The proposed date for the laws to come into effect is January 1, 2027, highlighting the steps being taken towards embracing digital currencies in Kyrgyzstan. This move signifies a significant development in the country’s financial landscape and sets the stage for the potential integration of digital currencies into everyday transactions.
The adoption of this bill marks a key milestone in the country’s journey towards embracing the future of digital finance and adapting to the evolving global financial landscape.
