Law of the Kyrgyz Republic On Virtual Assets
Also known as: Kyrgyz Law on Virtual Assets (2022)
Overview
Key Details
Jurisdiction
KyrgyzstanRegulator
Financial Market Regulation and Supervision Service of the Kyrgyz Republic
Law Type
Act
Status
In ForceOfficial Law Number
Law No. 12 of 2022
Official Title
Law of the Kyrgyz Republic On Virtual Assets
Effective Date
July 28, 2022
Publication Date
January 21, 2022
Last Verified
August 26, 2026
Topics Covered
Who This Law Applies To
Key Requirements
Law No. 12 regulates the creation, issue, storage and circulation of virtual assets. It defines digital tokens, mining and virtual-asset service roles, sets licensing or authorisation requirements for regulated operators, and assigns supervisory responsibilities. Virtual assets are not national currency or legal tender. Covered businesses must follow AML/CFT, governance, customer-information, advertising, recordkeeping and technical-security rules, supplemented by Cabinet and regulator measures and later amendments.
Key Provisions
Legal status of virtual assets; token issuance; exchange and service-provider authorisation; custody and wallet concepts; mining and industrial-mining rules; advertising controls; AML/CFT; records and reporting; supervisory and enforcement powers.
Licensing & Registration
Covered virtual-asset exchanges and service providers require the applicable licence or authorisation from the designated financial-market supervisor; mining is subject to separate registration and energy rules.
AML / CFT
VASPs must implement customer identification, beneficial-owner verification, transaction monitoring, suspicious-transaction reporting, sanctions controls and record retention under Kyrgyz AML/CFT law.
Custody & Safeguarding
Custodial and wallet-related providers must protect customer assets, keys and records through prescribed technical, organisational and security controls.
Disclosure & Marketing
Token issuers and service providers must meet information and advertising requirements; false or misleading promotion is restricted.
Market Integrity & Enforcement
The financial-market supervisor and other competent authorities can license, inspect, direct, suspend and sanction covered activity.
Tax Treatment
The virtual-assets law is not a complete tax code; mining and virtual-asset income are subject to Kyrgyz tax and implementing rules in force for the relevant period.
Related Laws
Decision No. E/35/2023 — VASP Registration and AML/CFT Instructions
Decision No. E/35/2023 on Virtual Asset Service Provider Registration, Cancellation of Registration and AML/CFT Instructions
Oman's FSA Decision No. E/35/2023 requires registration with the Oman Financial Services Authority (formerly Capital Market Authority) before carrying on covered virtual-asset activities in the Sultanate of Oman. It implements AML/CFT, governance and compliance requirements, and provides registration, cancellation and supervisory procedures. This is a VASP registration/AML regime and should be distinguished from any future full licensing framework.
BCB Resolutions No. 519, 520 and 521 of 2025 — Virtual Asset Regulatory Framework
Resoluções BCB nos. 519, 520 e 521, de 10 de novembro de 2025
Brazil's Central Bank (BCB) Resolutions No. 519, 520 and 521 of 10 November 2025 implement the virtual-asset regulatory framework under the supervision of the Central Bank. Resolution 519 establishes VASP authorisation procedures; Resolution 520 sets activity, governance, controls, security and conduct requirements; Resolution 521 integrates specified virtual-asset operations into Brazil's foreign-exchange and international-capital rules. Commencement is staged during 2026 — verify the effective date for each resolution separately.
Utility Token Offering Act, 2018 (Act No. 4/2018)
Utility Token Offering Act, 2018 (Act No. 4 of 2018)
Anguilla's Utility Token Offering Act 2018 (Act No. 4/2018) is one of the world's earliest purpose-built utility-token offering frameworks. It creates registration requirements for utility-token issuers, sets offering, disclosure and issuer-qualification conditions, and works with AML regulations and later amendments. Verify the most recent consolidation — a 2020 amendment may affect the effective/status fields.
SBS Resolution No. 02648-2024 — AML/CFT Rules for VASPs
Resolución SBS N.° 02648-2024 — Normas para la Gestión de Riesgos de LA/FT aplicable a PSAVs
Peru's SBS Resolution No. 02648-2024 applies AML/CFT risk-management and compliance duties to virtual asset service providers (PSAVs) supervised by UIF-Peru. It requires customer due diligence, recordkeeping and suspicious-transaction reporting. The resolution also contains a travel-rule chapter, but commencement of the travel rule has been deferred to 1 January 2029 through a later amendment — the travel rule is not currently effective.
Financial Market Digitalisation Act (Finanzmarktdigitalisierungsgesetz — FinmadiG)
Gesetz zur Digitalisierung des Finanzmarktes (Finanzmarktdigitalisierungsgesetz — FinmadiG)
Germany's Financial Market Digitalisation Act (FinmadiG) aligns German financial-market law with MiCA and DORA, establishes national supervisory powers and enforcement mechanisms for BaFin, and addresses the transition from existing German crypto-custody regulation. It applies to German financial entities, CASPs and other firms affected by MiCA/DORA national implementation.
Regulation (EU) 2024/1624 — Anti-Money Laundering Regulation (AMLR)
Regulation (EU) 2024/1624 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing
Regulation (EU) 2024/1624 (AMLR) is a directly applicable EU regulation creating AML/CFT obligations for obliged entities, expressly including crypto-asset service providers (CASPs). It works with the AMLA Regulation, AMLD6 and the EU crypto travel rule. Note: the regulation is legally in force, but general application date is 10 July 2027 — it should not be described as currently applicable to CASPs.
