National Bank of the Kyrgyz Republic discusses digital som implementation and payment security with Eurasian central banks

The National Bank of the Kyrgyz Republic provided an update on implementation of the digital som project and discussed approaches to virtual asset regulation with other Eurasian Economic Union central banks. The exchange took place at the 31st meeting of the Consultative Council on Currency Policy on Oct. 29 in Nesvizh, Belarus. Payment security was a major focus, including Kyrgyz experience in countering cyberthreats and unauthorized payment transactions. Participants from Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia also compared economic conditions and monetary policy responses. The Kyrgyz delegation outlined domestic measures to maintain price stability. Virtual asset regulation remained a recurring topic of regional exchanges, having also featured in central bank discussions hosted in Bishkek in July.