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Kyrgyzstan: crypto & digital assets regulation

Partially regulated

KYC/AML oversight for banks offering crypto services; no standalone VASP license

Lead regulator:
National Bank of the Kyrgyz Republic (NBKR)
Key law:
Procedure for Providing Services Related to Virtual Assets (2023)
Last updated:
2026-07-12

The National Bank of the Kyrgyz Republic (NBKR) regulates virtual asset activities primarily through its oversight of commercial banks, requiring them to obtain specific licensing and consent to provide services such as transfers and custody of virtual assets. This framework, established by the 2023 Procedure, integrates crypto services into existing banking regulations rather than creating a separate VASP licensing regime. The NBKR also utilizes a special regulatory regime and a dedicated Committee for Payment Systems and Digital Financial Technologies to oversee digital financial technologies and the digital som. There is no evidence of a standalone licensing category for non-bank VASPs in the provided documents.

Who regulates

  • National Bank of the Kyrgyz Republic

    Primary supervisor regulating banks' virtual asset services and overseeing digital financial technologies via a dedicated committee.

    [1][2]

Core laws & rules

  • Procedure for Providing Services Related to Virtual Assets (2023)

    Establishes mandatory licensing, consent, and operational requirements for commercial banks acting as virtual asset service providers, restricting services to transfers and custody.

    [1]

  • Regulation on the Special Regulatory Regime (2020)

    Creates a controlled environment for financial institutions to test innovative banking and payment services, including virtual assets, under strict eligibility criteria.

    [3]

Licensing & registration

  • Banking License with VASP Consent

    Commercial banks must obtain specific licensing and consent from the NBKR to provide virtual asset services such as transfers and custody.

    [1]

Restrictions & warnings

  • Virtual asset services provided by banks are restricted to transfers and custody, as per the 2023 Procedure.

    [1]

Direction of travel

  • The regulatory framework is evolving through the NBKR's special regulatory regime and dedicated committee for digital financial technologies, indicating ongoing development of digital asset oversight.

    [3][2]

Sources

  1. Procedure for Providing Services Related to Virtual Assets (Decision of the Board of NBKR dated February 3, 2023 No. 2023-P-14/8-2-(NPA)) · 2023-02-03
  2. Regulation on the Committee for the Payment System and Digital Financial Technologies of the National Bank of the Kyrgyz Republic · 2018-01-17
  3. Regulation on the Special Regulatory Regime · 2020-08-12

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This guide is compiled automatically from 3 primary-source documents published by Kyrgyzstan's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.