Kyrgyzstan Moves to Form State Crypto Reserve, Develop National Mining

Kyrgyzstan is set to introduce the concepts of a “state cryptocurrency reserve” and “state mining” as part of its national digital asset strategy.

The plan was announced by Farhat Iminov, head of the secretariat of the National Council for the Development of Virtual Assets and Blockchain Technologies under the President of the Kyrgyz Republic, The Caspian Post reports, citing Kabar.

During the National Council meeting on the development of virtual assets and blockchain technologies, Iminov reported on the progress of implementing the decisions made at the first meeting of the National Council on May 3, 2025, and noted that the Secretariat's work was aimed at improving the legal and institutional conditions for the development of virtual assets and blockchain technologies in the Kyrgyz Republic.

In order to improve the regulatory framework, the Secretariat, together with the Ministry of Economy and Commerce, prepared a package of amendments to the law of the Kyrgyz Republic on Virtual Assets, including amendments aimed at enshrining the legal definition of stablecoins, as well as tokens backed by real assets (RWA). To safely test innovative financial solutions, the introduction of a "regulatory sandbox" mechanism is envisaged.

In order to increase transparency and efficiency of regulation, it is proposed to distribute powers between the authorized bodies determined by the president and the cabinet of ministers, he said.

He emphasized that, in terms of institutional support for the National Council's activities, a key step was the creation of its executive body, the Secretariat, endowed with the status of a state institution. The corresponding decision was formalized by Presidential Decree No. 208 of July 16, 2025. Official funding for the Secretariat began on September 29, 2025, which provides a practical opportunity to move from the organizational stage to the implementation of the Council's tasks and instructions on a permanent basis, said Iminov.

Head of the Secretariat said that, simultaneously, in accordance with a protocol decision, work was carried out to update the composition of the Council by including the advisor to the President of the Kyrgyz Republic, the founder of the Binance cryptocurrency exchange Changpeng Zhao, and Binance regional representative Kirill Khomyakov.

We are confident that their participation in the Council's activities will significantly strengthen the Council's expert potential and ensure the practical focus of the decisions made, he added.