Crypto license in Kyrgyzstan
Crypto exchange
Криптобиржа
10,000,000,000 som
10 000 000 000 сомов
Decision on the file
Решение по заявке
30 calendar days
30 календарных дней
Licence drawn up in
Оформление лицензии
3 days after the fee
3 дня после пошлины
Licence term
Срок лицензии
no expiry date
бессрочная
Who needs a VASP license in Kyrgyzstan
Your users sit in the region
Platforms serving Central Asia and the CIS put their legal entity here, and a Kyrgyz licence is a document local banks and partners can check.
A counterparty asks who supervises you
The supervision service publishes the register of licensed providers itself, so a partner can look you up instead of trusting your own file.
You plan to issue your own token
An issue of virtual assets is registered apart from the licence, and the state takes 0.01% of its nominal value at the rate on the day of payment.
You already run a platform abroad
Kyrgyz residents are barred from transacting through unlicensed operators, so local demand reaches only platforms holding the Kyrgyz licence.
What you get
- A Kyrgyz company with capital funded the way the rules require
- A licence with no expiry date, in the public register
- Officers cleared by the supervision service in advance
- The platform placed on servers that pass the licence check
- A reporting calendar from the first month of operation
What Kyrgyzstan asks of a licensed platform
One law, two licences, two registers
Virtual assets in Kyrgyzstan run on the Law on Virtual Assets of 21 January 2022 and on Cabinet regulations under it. The supervision service licenses two kinds of provider and keeps a separate register for each: the virtual asset exchange operator, which sells and swaps assets for clients, and the virtual asset trading operator, the crypto exchange proper, which must be a joint stock company. Both licences cover the same catalogue of services, provided only on a specialised platform.
Capital, and where it may come from
The charter capital may be formed only in som, only by bank transfer and only from the founders' own money. Credit, pledged and other borrowed funds are refused. For an exchange operator the floor is 400,000 calculation units; for a crypto exchange it is 10,000,000,000 som. Combine both, and the higher threshold applies.
What the licence conditions require
- A working platform on servers: the main one inside Kyrgyzstan, the backup abroad against cyberattack.
- A business plan, with the provider's core policies and procedures.
- Internal control and technical protection, with rules on information security, continuity, consumer rights and personal data.
- Capital paid up to the threshold before filing.
- A contract with a compliance screening provider named by the supervision service.
- For a crypto exchange: one third of the board and of the collective executive body, and the sole executive officer, elected from Kyrgyz residents.
Who may not be a founder or officer
The law closes the door to people living permanently in an offshore zone, to companies registered there, to holders of accounts in offshore banks, to sanctioned persons and to anyone with an unspent conviction or an unpaid court judgment on their own debts.
Deadlines the rules set out
| Step | Deadline |
|---|---|
| Decision on a crypto exchange file | 30 calendar days |
| Pre-licence check, inside that period | up to 10 working days |
| Missing documents supplied on request | 15 working days |
| Licence drawn up after the fee is paid | 3 days |
| Fee left unpaid after a favourable decision | annulled after 3 months |
| Re-filing after a refusal to consider the file | after 6 months |
How the permission is lost again
A licence obtained on knowingly false documents, or used for prohibited business, must be withdrawn. It may be withdrawn if the holder has not started within twelve months of issue, or has stopped for over six.
Which of the two licences you need
Virtual asset exchange operator
For a desk that buys, sells and swaps assets for clients on its own platform. Lower capital floor, monthly reporting, officers cleared in advance.
Virtual asset trading operator
For an exchange organising trades. Joint stock company only, capital of ten billion som, and listing limited to registered issues and foreign assets already traded abroad.
Still weighing countries against each other? The crypto and fintech licensing page lines the regimes up side by side, licensing and compliance covers what happens after a permission is granted, and Kyrgyzstan has a page of its own.
Sources: Law of the Kyrgyz Republic No. 12 of 21 January 2022 on Virtual Assets, arts. 22, 24, 25, 29, 30, 31 and 38, as amended to 31 July 2025; Cabinet Regulation No. 514 of 16 September 2022, Annexes 1 and 3, paras. 28, 31, 48, 51-57 and 60, as amended to 30 September 2025, published on fsa.gov.kg.
Stages of work
Pick the licence and the legal form
We settle which of the two licences your model falls under before anything is drafted: the crypto exchange licence goes only to a joint stock company, and the capital floor moves with the answer.
Register, fund it, place the servers
The company is registered in Kyrgyzstan, the capital is paid in som by bank transfer from the founders themselves, and the platform is commissioned with the main server in the country and the backup abroad.
Write the policies the file is judged on
Business plan, internal control, information security and continuity, consumer rights, personal data, client terms and complaints, plus the contract with the screening provider the service names.
Get the officers cleared, then file
Directors and executives go for clearance first, which takes thirty calendar days. The file then goes in: a month by the law, thirty calendar days on a crypto exchange file, inside which your systems may be checked for up to ten working days.
Pay the fee and collect the licence
After a favourable decision the licence is drawn up three days after the fee is paid. Leave the fee unpaid for three months and the decision is annulled.
Report from the first month
Reporting starts at once, monthly for an exchange operator. Changes to licence data are notified within ten working days, and a decision to change the capital within fifteen.
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