Kyrgyzstan Raises Capital Requirement for Bitcoin Exchanges to $100 Million
The Cabinet of Ministers of Kyrgyzstan has increased the minimum capital requirement for cryptocurrency exchanges from 100 million to 10 billion soms (from $1.14 million to $114.3 million), according to local media.
Amendments were made to the resolution “On the Regulation of Relations Arising from the Circulation of Virtual Assets.” The document was signed by the head of the cabinet, Adylbek Kasymaliev.
Exchanges registered in the country must comply with the new requirements by January 1, 2026.
The authorities believe that these changes will enhance the financial stability and reliability of crypto exchanges, protect user interests, and create favorable conditions for the development of the virtual asset market.
“A significant capital base strengthens the liquidity of exchanges, allowing them to meet client obligations promptly and operate stably even amid market fluctuations. Furthermore, having substantial capital provides a financial reserve to cover potential losses related to cyberattacks, technical failures, or other financial risks,” states the explanatory note to the document.
During the discussion phase, the project faced criticism from the Association of Virtual Asset Market Participants. Its representatives described the increase in capital requirements as “unjustified, limiting competition and creating obstacles for market development.”
Representatives of the licensed Kyrgyz exchange TokenSpot told ForkLog that the increased capital requirements for cryptocurrency platforms aim to consolidate the market, leaving “only large and reliable projects.”
They noted that even before the increase, the amount was significant—”one of the largest in the world.”
“Once the new requirements take effect, a Kyrgyz license may become one of the most challenging to obtain financially, thus marking the utmost seriousness of the platforms that acquire it, not only domestically but also globally,” added TokenSpot.
Earlier in March, the State Financial Intelligence Service under the Ministry of Finance of Kyrgyzstan withdrew claims against a group of crypto companies regarding their “involvement in laundering criminal proceeds.”
Рассылки ForkLog: держите руку на пульсе биткоин-индустрии!