- Kyrgyzstan presented the legal framework for CBDC, SOM digital, with a test for 2025.
- The preliminary model of Digital SOM will start this year, with the decision of the planned final for 2026.
President Chaparov Kyrgyzstan made one step to become part of the few countries that operate the Central Bank of the Central Bank (CBDCS). The constitutional amendments were signed, which submitted the legal framework for SOM digital.
this legislation It determines the future CBDC launch framework. Meanwhile, the National Bank of Kyrgyz Republic was appointed to manage this digital currency platform as a single operator.
The test to start as a final decision awaiting in 2026
The newly approved law creates som as a legal tendency throughout Kyrgyzstan when it becomes operation. The National Bank will create a bases of payment for its digital platform while setting safety measures to protect users from fraudulent activities.
According to Press Agency directionIt is a local news agency, the SOM Digital Testing Testing stage will start this year. Meanwhile, the final decision regarding the CBDC version of 2026 is scheduled to be held. The scaling approach shows the multiple factors that must be taken into account when offering a national digital currency.
The CBDC initiative appears while expanding the adoption of Blockchain technology throughout Kyrgyzstan. Moreover, Changpeng Zhao will sign a note with the country’s foreign investment agency to give Blockchain and Crypto advice this month.
President Chaparov supports these initiatives because they will help in economic growth and enhance the security of virtual assets. The mountainous and engraved nature of Kyrgyzstan creates favorable conditions for the development of encryption, especially in mining operations.
Renewable energy resources in the country are abundant because hydroelectric power plants produce more than 30 % of national energy output. Current reports indicate that Kyrgyzstan has taken advantage of less than 10 % of the available electrical energy resources.
SOM Digital CBDC in Kyrgyzstan will become one of five digital currencies for the operating central bank worldwide after the sandy dollar in the Bahamas, Niroa Neri, Zimbabwe, and Jamaica Al -Mabri. Throughout the world, there are more than 90 CBDC project found in the research and development stages.
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