Use of cryptocurrencies is illegal in Kyrgyzstan, National Bank

Bishkek, June 15, 2022. / Kabar /. In connection with the spread of cryptocurrencies/virtual assets in Kyrgyzstan, the National Bank reminds the population of possible risks. According to the legislation, the only means of payment in the territory of the Kyrgyz Republic is the national currency - Som. The use of virtual assets, in particular when buying and selling goods and services as a means of payment on the territory of the Kyrgyz Republic, will be a violation of the laws of our state, the financial regulator said. In this regard, the National Bank of the Kyrgyz Republic considers it necessary to bring to the attention of the population information about the risks and consequences associated with the use of virtual currencies. Tthe National Bank recommends being prudent and refraining from using cryptocurrencies in payments and settlements, and notes that users assume all possible risks and negative consequences when making payments with cryptocurrencies/virtual assets.