Digital Som Launch Discussed at Presidential Council Meeting

Kyrgyzstan is moving toward a pilot digital som as the government expands its focus on virtual assets and blockchain technology.

President Sadyr Japarov chaired the third meeting of the National Council for the Development of Virtual Assets and Blockchain Technologies in Cholpon-Ata. Participants discussed the virtual asset market, blockchain infrastructure, the digital economy, international cooperation and ways to improve industry regulation.

The meeting presented a new digital platform for licensing and government oversight in the virtual asset sector. Officials also considered launching the digital som on a pilot basis and examined the prospects for KGST, a stablecoin linked to the national currency. Security, taxation and risks connected with international sanctions and restrictions received separate attention.

Following the meeting, Japarov instructed the National Agency for Virtual Assets and Blockchain Technologies to prepare a package of implementing regulations within three months and develop amendments to legislation on virtual assets. He ordered the National Bank to create a basic digital som platform and conduct pilot testing by the end of 2026. Trials in real-world conditions are planned to begin in 2027, followed by a phased rollout. The Ministry of Science and Higher Education was also tasked with training specialists for the sector.