National Bank of the Republic of Tajikistan reiterates the somoni as the sole means of payment as it studies regulation of cryptocurrencies and digital assets

The National Bank of the Republic of Tajikistan published an explanatory note distinguishing cryptocurrencies, central bank digital currency and virtual assets, and reaffirmed that the somoni is the only and exclusive means of payment for monetary obligations and settlements in Tajikistan. It also indicated that the regulation of dealings in cryptocurrencies, digital currency and virtual assets is under analysis and study. The note describes cryptocurrencies as decentralized blockchain-based digital assets with no physical form, not backed by real assets and not regulated by state authorities or the central bank, and highlights risks including sharp price volatility, lack of legal guarantees, fraud and use in the shadow economy, prudential and systemic risks and terrorist financing. It contrasts this with digital currency issued by a central bank (CBDC), citing examples already launched in the Bahamas, Jamaica and Nigeria and developments and pilots in countries such as China, India, Sweden and Brazil. Virtual assets are described as privately issued digital units used within limited ecosystems such as online games, platform-based points or bonuses and mobile-app tokens, which are not official means of settlement, not used outside their platform and not exchangeable for real money. The central bank said its work on the regulatory topic remains ongoing, taking account of the importance of digital technologies and national interests.