Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Kyrgyzstan President Brings CBDC a Step Closer to Reality
    Cryptocurrency

    Kyrgyzstan President Brings CBDC a Step Closer to Reality

    April 17, 20252 Mins Read


    Kyrgyzstan President Sadyr Japarov took his country a step closer to issuing its own central bank digital currency Thursday, signing legislation that gives the “digital som” legal status.

    The central Asian country is still deciding whether or not to issue a CBDC, but Thursday’s amendments to the Constitutional Law of the Kyrgyz Republic ensures that the digital som will be treated as legal tender if the central bank goes ahead with issuing a CBDC.

    “The purpose of the Constitutional Law is to launch a pilot project of a prototype of a national digital currency, the ‘digital som,’ as well as to create a legal basis and its status,” a statement on the president’s site said.

    Under the new provisions, the National Bank of the Kyrgyz Republic will be able to develop and approve rules for conducting payments on the digital som platform.

    These provisions, described as amendments on the president’s website, were first adopted on March 20 by Kyrgyzstan’s supreme council. The country is due to begin testing the digital som this year, according to local news outlet Trend News Agency. The country is not expected to make a final decision on whether to issue the CBDC until next year.

    The idea of CBDCs has been controversial among some crypto proponents, but countries like the U.K., Nigeria, Jamaica and the Bahamas — as well as the European Union’s multinational bloc — have moved in the direction of issuing a CBDC, while other countries like the U.S. have largely moved away from the idea of issuing one.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    One in four savers would consider buying cryptocurrencies as part of their retirement planning

    Cryptocurrency

    Cryptocurrency Live News & Updates : Shiba Inu Price Faces Potential Volatility Ahead

    Cryptocurrency

    Cryptocurrency: unlocking the digital vaults

    Cryptocurrency

    What’s the best Crypto to buy in August? This new Cryptocurrency could deliver 5x ROI bypassing ETH 2x

    Cryptocurrency

    Which Cryptocurrency Is More Likely to Be a Millionaire Maker? Dogecoin vs. Solana

    Cryptocurrency

    Is a Cryptocurrency Market Crash on the Horizon?

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Wing Lee Property Investments prévoit une perte nette de 233 à 235 millions de dollars HK pour 2024

    Commodities

    Trump blames N.J. energy price hikes on windmills — but gets an important fact wrong

    Commodities

    Les émissions de méthane liées à l’énergie toujours à des niveaux record

    Editors Picks

    Congyu Intelligent Agricultural Holdings Limited nomme Yang Yan au poste de directeur des opérations, à compter du 3 avril 2025

    April 3, 2025

    Who founded Bitcoin? Inside cryptocurrency’s biggest unsolved mystery as new Channel 4 documentary ‘Seeking Satoshi’ reveals bombshell clues about founder’s true identity

    February 28, 2025

    Mexican Tourist Destinations Like Puerto Vallarta See Surge in Dollar-Priced Property Investments

    August 19, 2024

    The EU’s ‘fantasy’ $750B energy promise to Trump – POLITICO

    July 28, 2025
    What's Hot

    Horry Co. residents shocked by property tax increases amid reassessment

    October 15, 2024

    Merging localities promote restructuring of key agricultural products

    July 27, 2025

    La fintech brésilienne Meliuz adopte une stratégie de réserve de bitcoins ; les actions montent en flèche -Le 06 mars 2025 à 17:55

    March 6, 2025
    Our Picks

    E.ON – record earnings and investments fuel Europe’s energy transition

    February 28, 2025

    Congress’s “One Big Beautiful Bill” Will Shrink Renewable Energy Investments—Yet Some Technologies Are Preserved

    August 4, 2025

    Ham festival highlights Trigg County’s agricultural heritage | News

    October 13, 2024
    Weekly Top

    Get ready for fracking, Reform UK tells energy firms

    August 24, 2025

    New audit “safari” for agricultural subsidies

    August 24, 2025

    Prudently managing post-retirement portfolio need of the hour

    August 24, 2025
    Editor's Pick

    Pakistan plans digital currency pilot

    July 9, 2025

    Taco Bell opening early retirement community for ‘old at heart’

    July 12, 2024

    Why retirement is out of reach for many working Americans

    July 11, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.