FILTERED RESULTS
FILTERS
Ads Top
DARK MODE
CHART
MCap $2.8T +0.1%24h Vol $45.7B -2.4%Fear & Greed 61/100Alts Index 53/100
BTC.D 59.2% 0%Stable.D 9.4% 0%ETH.D 10.9% 0%Others.D 20.5% 0%
STRK$0.1138+52%•CHIP$0.0700+32.66%•TIA$0.6267+30.67%•CFX$0.0615+20.68%•AERO$0.9429+16.32%•ZK$0.0157+12.72%•Q$0.0311+12.13%•EIGEN$0.2484+10.43%•INJ$7.697+10.31%•WLD$0.5660+9.58%•
KAIA$0.0540-11.28%•CARDS$0.2752-9.46%•STONK$0.1363-7.7%•BR$0.4945-6.94%•JUP$0.3587-6.26%•CASHCAT$0.1105-5.73%•SAND$0.0651-4.06%•QNT$238.11-3.69%•PYTH$0.0786-3.67%•JST$0.1390-2.58%•
Top movers 24h
    Filters
      Coins
      Sentiment
      Impact
      Search
      FILTERED RESULTS

        

      Upgrade your plan
      Dashboard

      Kyrgyzstan's Crypto Council Approves Regulatory Framework and Liquidates KGST Stablecoin Issuer

      On September 5, Kyrgyzstan's National Council for the Development of Virtual Assets and Blockchain Technologies met under President Sadyr Japarov to discuss the country's digital asset strategy. The meeting focused on regulatory frameworks, sanctions compliance, and the future of the KGST stablecoin, which has faced significant challenges since its launch.

      The council approved the liquidation of OAJ 'ElPay,' the issuer of the KGST stablecoin, which was pegged to the Kyrgyz som and became the first stablecoin from the Commonwealth of Independent States to be listed on Binance in December 2025. This decision comes as over 25 entities in Kyrgyzstan's digital asset sector are currently under sanctions.

      In contrast, the government is advancing the USDKG project, a gold-backed stablecoin pegged to the US dollar, which was registered on October 31, 2025, with an initial issuance of approximately $50 million. While KGST was intended for domestic transactions, USDKG aims to facilitate cross-border payments and international trade, reflecting the government's dual strategy in the stablecoin market.

      Kyrgyzstan's regulatory framework for cryptocurrencies has evolved since the 2022 Law on Virtual Assets, which mandates that stablecoins be fully collateralized and registered with reserves in licensed banks. The council also discussed establishing local banking channels for crypto operations and developing a cryptocurrency analytics platform to enhance compliance and monitor transactions.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

      .

      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud