The Central Bank of Kyrgyzstan has published a draft law on the regulation of relations in the cryptosphere.

Last Friday, 13 November, the Central Bank of Kyrgyzstan presented its version of the draft law on the regulation of the cryptographic industry. The CB statement notes that the expert community and representatives of the cryptographic business can take part in the discussion and revision of this document.

The main purpose of the law is to create legal Bitcoin Profit conditions that minimize the risks of fraud with digital currencies and legalisation of criminal revenues through tokens. In addition, the regulator expects to use the regulatory framework to stimulate the development of block technology in the country.

The tax regime must comply with current legislation. At the same time, the document points out the need to attract internal and external investments into the cryptosphere.

Until the end of November, the Central Bank will accept proposals and comments on this draft law. On 4 December, the regulator plans to publish the final version of the document and include it in the official register of regulatory acts.

The Kyrgyz authorities want to pay special attention to the mining industry. Last year, for example, there were proposals to introduce a tax for companies and citizens involved in crypt mining.