Kyrgyzstan prepares to launch prototype of digital national currency
BISHKEK. April 17 (Interfax) – Kyrgyzstan is preparing to launch a digital som, with President Sadyr Japarov signing the corresponding law on Thursday, the Kyrgyz leader’s press service said.
“The Kyrgyz president has signed amendments to the constitutional law on the National Bank, aimed at launching a pilot project for a prototype national digital currency – the digital som, as well as establishing its legal framework and status,” the press service said.
The National Bank of Kyrgyzstan has been granted the exclusive right to issue the digital som, establish rules for its issuance and circulation, and organize and ensure the functioning of the digital som platform.
The law specifies that the digital som is the national currency of Kyrgyzstan and will be issued in digital form on a specialized platform.