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Kyrgyzstan Has Developed A Draft Regulation Of Cryptocurrency Exchanges
Summary: According to local media 24.kg reported on Wednesday, Kyrgyzstan’s National Financial Market Supervisory Authority (Gosfinnadzor) has developed a draft clause regulating cryptocurrency exchanges. The newly proposed regulations aim to establish the legal status, functions, responsibilities, and compliance requirements of cryptocurrency exchanges operating in Kyrgyzstan, including uniform registration in the national registry. The draft also requires ...
According to local media 24.kg reported on Wednesday, Kyrgyzstan’s National Financial Market Supervisory Authority (Gosfinnadzor) has developed a draft clause regulating cryptocurrency exchanges.
The newly proposed regulations aim to establish the legal status, functions, responsibilities, and compliance requirements of cryptocurrency exchanges operating in Kyrgyzstan, including uniform registration in the national registry.
The draft also requires cryptocurrency transaction service providers to take measures to combat illegal activities such as money laundering and terrorist financing.
According to the report, Gosfinnadzor stated that the new framework will reduce risks and develop innovative technologies to build a digital economy in the country.
By Mary Liu
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Link: Kyrgyzstan Has Developed A Draft Regulation Of Cryptocurrency Exchanges [Copy]
