Kyrgyzstan Aims for Digital Asset Revolution with 2027 Targets

Kyrgyzstan has outlined an ambitious digital asset roadmap, aiming to digitize its crypto licensing system and test a central bank digital currency (CBDC) by 2027.

The country's National Council for the Development of Virtual Assets and Blockchain Technologies met on September 5 in Cholpon-Ata, chaired by President Sadyr Japarov. The meeting resulted in two concrete timelines: a fully electronic licensing system for virtual asset service providers set to begin pilot testing on January 1, 2027, and real-world trials of the digital som, Kyrgyzstan's CBDC, also slated for 2027.

The current system has over 200 licensed virtual-asset operators and exchange offices. The new platform will transition the entire licensing process into an electronic format. The National Agency for Virtual Assets and Blockchain Technologies must determine the platform's cost and secure funding within one month of the September 5 meeting, which puts the proposal due date at October 5, 2026.

The digital som is currently being developed by the National Bank of the Kyrgyz Republic. Internal pilot testing of the platform is required to be completed by December 31, 2026, with real-world testing beginning in 2027.