365Crypto
Kyrgyzstan’s president just gave crypto history a push. Sadyr Zhaparov signed a law that gives legal status to the country’s upcoming digital currency, the “digital som.”
This new law lets the central bank run the show. It can now launch a pilot, set rules, and manage the platform for this central bank digital currency (CBDC).
But don’t expect digital soms to show up in your wallet tomorrow. The final decision won’t come until late 2026. Until then, the central bank is testing the system to see if it holds up.
They’ll also need to make sure it’s secure—no fraud, no funny business. Think strong cryptographic locks and digital padlocks.
The law was approved by parliament back in March. Now with the president’s signature, the National Bank has the green light to move ahead.
CBDCs aren’t exactly everyone’s favorite topic. Critics worry about privacy and government snooping. But Kyrgyzstan sees potential.
Only four countries have launched full CBDCs so far—Bahamas, Nigeria, Zimbabwe, and Jamaica. The rest? Still testing or planning.
Kyrgyzstan’s been quietly working on its crypto game. Just recently, ex-Binance CEO CZ signed a deal to help the country with crypto regulations.
With tons of unused hydropower and plenty of mountains, Kyrgyzstan is aiming to be a crypto-friendly zone—and the digital som might just be the start.
CBDC (Central Bank Digital Currency): A digital version of a country’s official currency, issued and controlled by the central bank.
