Kyrgyzstan advanced a bill to create a state crypto reserve that would combine mined cryptocurrencies, tokenized real‑world assets and state‑issued stablecoins to diversify reserves and support digital‑asset infrastructure while applying state mining tariffs and regulatory controls.
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State crypto reserve combines mined crypto, tokenized RWAs and stablecoins
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Parliament passed amendments defining “state crypto reserve” and “state mining” in three readings.
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Bill aims to boost financial stability and diversify reserves; tariff rules apply to state mining.
Primary keyword: Kyrgyzstan state crypto reserve — Learn how the bill defines reserves, mining and stablecoins; read the implications and next steps.
Kyrgyz lawmakers passed amendments to the “On Virtual Assets” bill in three readings, defining terms like a state crypto reserve and state crypto mining.
Kyrgyzstan, a growing player in Central Asia’s digital‑asset landscape, has moved to establish a legal framework for a state cryptocurrency reserve and state‑run industry operations. The bill covers stablecoin issuance, tokenized real‑world assets (RWAs), and state mining under regulated tariffs.
Parliament approved amendments to the bill “On virtual assets” in three readings at once, formalizing definitions for a state crypto reserve and state mining, the legislature announced on Sept. 9.
What is the Kyrgyzstan state crypto reserve?
The Kyrgyzstan state crypto reserve is defined in the draft law as a portfolio of virtual assets owned by the state and formed through mining, tokenization, issuance and acquisition. The reserve is intended to diversify national assets and support the country’s digital‑asset ecosystem while operating under presidential procedures for formation and management.
How does the bill define state mining and tariffs?
The Economy and Commerce Minister Bakyt Sydykov explained that state mining will be subject to the same tariff rules as private operators. This means state entities will pay established mining rates, safeguarding energy‑supply priorities at facilities like thermal power plants and Kambar‑Ata‑1.
Kyrgyzstan’s draft law on amendments to the bill “On virtual assets” passed three readings on Sept. 9 (translated by Google). Source: Kenesh.kg
Why would Kyrgyzstan build a crypto reserve?
Officials say a crypto reserve provides diversification and new accumulation instruments to improve financial stability. The reserve would not rely solely on Bitcoin or single assets; instead, it would be a mix of digital assets including stablecoins backed by fiat and tokenized RWAs.
Minister Sydykov noted that a reserve enables the state to accumulate cryptographic assets through mining, tokenization and issuance of stablecoins. The bill states the President will determine procedures for formation, storage, management and use of the reserve.
What assets will the reserve include?
The draft law describes the reserve as a set of virtual assets created by mining, issuance, tokenization and acquisition. It specifically references stablecoins, tokenized real‑world assets and mined cryptocurrencies as permissible components.
When does the bill take effect and what are the next steps?
After parliamentary approval in three readings, the draft bill awaits signature by President Sadyr Japarov. Once signed, implementing regulations and presidential procedures will define operational details and timelines for reserve formation and management.
How does this compare regionally?
Neighboring governments are also exploring state crypto initiatives. Kazakhstan has publicly discussed strategic crypto reserves and broader support for crypto and AI development, illustrating a regional trend toward formalizing state roles in digital assets.
Frequently Asked Questions
How will the state ensure mining does not disrupt energy supply?
The government will apply separate mining tariffs and explicitly state that thermal power plants and major hydro projects are not intended for large‑scale mining farms, preserving core energy functions.
Will the reserve use Bitcoin or a diversified basket?
The draft defines the reserve as a combination of assets rather than relying solely on Bitcoin; it aims to blend mined crypto, stablecoins and tokenized RWAs for diversification.
Key Takeaways
- Legislative step taken: Parliament passed amendments defining state crypto reserve and state mining in three readings.
- Reserve composition: A mix of mined cryptocurrencies, stablecoins and tokenized real‑world assets.
- Operational limits: State mining will follow established tariffs and rules to protect energy infrastructure.
Conclusion
Kyrgyzstan’s amendments to the “On Virtual Assets” bill create a legal foundation for a state crypto reserve that combines mining, tokenization and stablecoin issuance to diversify national holdings. If signed by the President, the law will set presidential procedures and tariffs shaping how the reserve is formed and managed, marking a notable step in Central Asia’s digital‑asset policy evolution.
