Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets revoked the previously issued licences of five virtual asset exchange operators under Order No. 727-p dated 29 December 2025, citing breaches of the Kyrgyz Republic’s virtual assets requirements and associated risks to customers and other consumers. The operators named were ESEIX LLC, Red Exchange LLC, Bestex LLC, T Store LLC, and Liberty Exchange Zhapan LLC. The revocations were linked to violations of Part 2 of Article 12 of the Law of the Kyrgyz Republic “On Virtual Assets” and paragraphs 36 and 37 of Chapter 9 of the Regulation on the Activities of the Virtual Asset Exchange Operator and the Maintenance of the Register of Virtual Asset Exchange Operators (approved by Cabinet of Ministers Resolution No. 514 of 16 September 2022), and were taken on the basis of paragraphs 1 and 4 of Part 2 of Article 31 of the Law “On Virtual Assets”. The release highlights operators’ obligations to comply with virtual asset turnover legislation and to provide information and transaction reporting, including monthly operational reports and quarterly IFRS financial statements comprising the full set of primary statements and notes.
State Service for Regulation and Supervision of Financial Markets 2026-01-13
Kyrgyz Republic's State Service for Regulation and Supervision of Financial Markets revokes five virtual asset exchange operator licences for reporting and compliance breaches
The State Service for Regulation and Supervision of Financial Markets in the Kyrgyz Republic revoked the licenses of five virtual asset exchange operators, including ESEIX LLC and Red Exchange LLC, due to breaches of virtual asset requirements and consumer risks. The action, under Order No. 727-p dated 29 December 2025, was based on violations of the Law “On Virtual Assets” and related regulations, emphasizing operators' compliance and reporting obligations.