Central Bank of Kyrgyzstan Rejects to Recognize Bitcoin as a Means of Payment

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The Parliament of Kyrgyzstan is studying a bill aimed to regulation the relations in the crypto sphere. At the same time, the authorities of the country want to tighten control over crypto miners, which have increased the load on the energy infrastructure of the country in recent years.

Emil Zhamgyrchiev, a member of the Parliament, has asked the National Bank of Kyrgyzstan and the government to develop a law on the development of the crypto business in the country. According to him, the legalization of this sector of the economy will create conditions for the inflow of additional money into the budget in the form of taxes.

However, the head of the Central Bank, Zair Chokoev, has said the regulator is against recognizing cryptos as a means of payment in the country. According to him, the only legal instrument for paying for goods and services in Kyrgyzstan is the som, the country’s official currency.

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