Kyrgyzstan's NAWA Unveils New Crypto Regulations Amid International Scrutiny

The National Agency for Virtual Assets and Blockchain Technologies (NAWA) in Kyrgyzstan has launched a public discussion on new regulatory rules for the cryptocurrency market. The proposed regulations aim to create a transparent and secure system, taking into account international experience and focusing on risk-oriented approach.

The draft regulations cover seven key areas: crypto exchanges, licensing and regulation of operators' activities; conditions for issuing licenses and operation rules for trading operators; stablecoins, procedures for issuance and circulation; RWA tokens, rules for issuance and circulation backed by real assets; mining, procedures for registration and issuance of certificates; regulatory 'sandbox', creation of a special regime for testing innovative projects; and enforcement measures, mechanisms for applying sanctions.

The agency emphasizes that the regulatory framework is developed to protect investors' rights, users, and adhere to international standards in combating money laundering and financing terrorism. The public discussion invites government bodies, experts, business representatives, and cryptocurrency market participants to provide comments and suggestions through the Unified Public Discussion Portal or NAWA's website.