Kyrgyzstan Legalizes Digital Currency as President Signs CBDC Law

Kyrgyzstan’s President Sadyr Zhaparov has signed a constitutional law authorizing the launch of a Central Bank Digital Currency (CBDC) pilot project, while also giving the country’s national currency, the “digital som,” legal tender status. The law grants exclusive issuance rights to the National Bank of the Kyrgyz Republic, who will determine rules for issuance and circulation and oversee the digital som platform.