Prime Minister of Kyrgyzstan Aims to Legalize Crypto and Create National Cryptocurrency
DailyCoin
Published Apr 01, 2022 03:23AM ET
Prime Minister of Kyrgyzstan Aims to Legalize Crypto and Create National Cryptocurrency
The prime minister of Kyrgyzstan, Karim Khanjeza, moved to legalize cryptocurrency. During a meeting with the parliamentary committee on law and order, he endorsed regulation on the country’s crypto market and suggested law modifications to incorporate digital assets.
He commented on the growing field of cryptocurrencies and the crypto regulations in India:
“Nothing is growing as fast as cryptocurrency. India has already announced that it will become a global hub for virtual assets.” The prime minister stated that his country is ready to launch its own national cryptocurrency. Khanjeza further suggested that the government focus on developing the national cryptocurrency supervised by the national bank.
The central Asian country is relatively crypto-friendly and has seen many advancements in the industry. Bitcoin is considered a commodity in Kyrgyzstan, and transactions are permitted under national laws.
In August 2021, the government legalized and introduced regulations for crypto exchanges. However, there are no laws that regulate cryptocurrency circulation at the moment.
On the Flipside
- The rising crypto adoption and mining in Kyrgyzstan has resulted in an unprecedented energy crisis in the country.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Get The News You Want
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.