Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets published its 2025 report on the virtual asset market, covering registrations of virtual asset service providers (VASPs), transaction volumes, virtual asset issuance activity, and supervisory actions. It recorded total VASP turnover of KGS 2,735,062.5 million across 2,122,177 transactions, with virtual asset exchange operators accounting for more than 94% of turnover. The register data show 82 virtual asset exchange operators and five trading operators (crypto exchanges) in 2025, with no miners recorded in the register and five virtual asset issuers. Crypto exchange turnover totalled KGS 157,206.31 million across 23,260 transactions, while exchange operator turnover was KGS 2,577,856.19 million across 2,098,917 transactions. The report also states that six virtual asset issues were registered in the Unified State Register of Virtual Asset Issues, exceeding 6 billion units with a total nominal value of over KGS 3 billion, and that supervision uses the RUNEX analytical crypto control platform and market reporting. Enforcement activity rose to 45 protocols in 2025 with fines totalling KGS 1,215,000, alongside 26 licence revocations, three temporary suspensions, and revocation of certificates for four mining entities.
State Service for Regulation and Supervision of Financial Markets 2026-02-10
Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets publishes 2025 virtual asset report showing KGS 2,735,062.5 million VASP turnover
The State Service for Regulation and Supervision of Financial Markets in the Kyrgyz Republic released its 2025 report on the virtual asset market, noting a total VASP turnover of KGS 2,735,062.5 million across 2,122,177 transactions, with exchange operators contributing over 94%. The report highlights increased enforcement actions, including 45 protocols and fines amounting to KGS 1,215,000, alongside 26 licence revocations and other supervisory measures.