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Kyrgyzstan Moves Toward Digital Currency with New CBDC Legislation
Kyrgyzstan Moves Toward Digital Currency with New CBDC Legislation
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Kyrgyzstan has officially authorized the development of a central bank digital currency (CBDC) following the passage of new legislation signed by President Sadyr Zhaparov. The constitutional law, signed April 17, grants legal tender status to a future digital version of the national currency, the ’digital som.’ The National Bank of the Kyrgyz Republic will have sole authority to issue and regulate the CBDC, as well as manage the platform supporting its circulation. Although the legal groundwork has been laid, Kyrgyz officials have not yet committed to a full-scale launch, with a decision expected by late 2026. In the meantime, the central bank is preparing to initiate testing of the system.
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