Regulatory Alerts2022-04-20 | 130299Added · Updated
Regulation on Electronic Money in the Kyrgyz Republic
The National Bank of the Kyrgyz Republic establishes rules for the issuance, distribution, and redemption of electronic money by banks and payment organizations. The regulation mandates that local electronic money be denominated in the national currency (som) and prohibits the issuance of foreign-currency-denominated electronic money within the country. It defines specific operational requirements, including the prohibition of transactions on unidentified wallets, strict limits on funding methods, and technical compatibility standards for payment systems.
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Topics
payments
privacy
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