Kyrgyzstan aims to become a regional hub for virtual assets and blockchain technologies on Akchabar

Kyrgyzstan aims to become a regional hub for virtual assets and blockchain technologies

Kyrgyzstan aims to transform the country into a regional hub for virtual assets and blockchain technologies. The President made this announcement at a meeting of the National Council.

According to him, the development of virtual assets, blockchain technologies and new digital financial instruments is becoming one of the key drivers of the transformation of the global economy and financial system. Kyrgyzstan is already refining its legislation in this area and establishing the necessary technological and financial infrastructure.

“Market dynamics and growing interest from businesses and investors demonstrate the significant potential of this sector in our country,” said the President.

The Head of State noted that the active development of the market and the emergence of new technological solutions had necessitated the establishment of the National Agency for Virtual Assets and Blockchain Technologies. It is tasked with regulating the sector, ensuring its development and coordinating key initiatives.

“This will strengthen the institutional framework needed to achieve our strategic goal — to transform the Kyrgyz Republic into a regional hub for virtual assets and blockchain technologies,” he emphasised.

The President added that such a hub should represent not only a technological platform, but also a fully-fledged economic ecosystem capable of creating investment opportunities and developing financial infrastructure.

“A regional hub is not just about technology and individual projects. It is, first and foremost, a holistic ecosystem combining modern regulation, reliable infrastructure, human capital, security, investment opportunities and international cooperation,” the President stated.

According to him, the development of the sector should benefit not only businesses and investors, but also citizens. The state must ensure conditions under which people can independently choose between traditional financial instruments and virtual assets.

“Our task is to create a clear, transparent and secure environment for this,” said the head of state.

He emphasised that, to achieve this goal, Kyrgyzstan needs to continue working on legislation, infrastructure, staff training and security mechanisms, as well as expanding international cooperation.

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Source: www.akchabar.kg