Kyrgyzstan to Establish State Cryptocurrency Reserve for Economic Stability

Kyrgyzstan is poised to become a leader in the Central Asian cryptocurrency market by enacting legislation to establish a state cryptocurrency reserve. The Kyrgyz parliament recently approved amendments to their ‘On virtual assets’ bill, incorporating key terms like ‘state crypto reserve’ and ‘state mining’. This move was championed by Economy and Commerce Minister Bakyt Sydykov who aims to create a robust legal framework for stablecoins, tokenized real-world assets, and state-led industry initiatives.