According to Farhat Iminov, director of the National Agency for Virtual Assets and Blockchain Technologies, Kyrgyzstan's virtual assets market is developing actively. Total turnover on the regulated market in the first half of 2026 reached 2.2 trillion som, with about 3.8 million transactions carried out.
Market dynamics and tax revenues
A significant increase in turnover was noted: while turnover stood at 923.7 billion som in 2024, by the end of 2025 it had grown to 2.74 trillion som, almost three times more. In the first six months of 2026, turnover reached 2.2 trillion som, about 80 percent of the previous year's total.
According to Farhat Iminov, tax revenues from virtual asset service providers amounted to about 1.48 billion som in 2025. As of October 2026, 172 licensed virtual asset service providers were operating in Kyrgyzstan.
Regulation of the sector
Recall that in May this year, a decree by President Sadyr Japarov established the National Agency for Virtual Assets and Blockchain Technologies. The agency was tasked with forming a system of state market regulation, ensuring user protection and creating conditions for the development of digital financial instruments.
- The regulation covers turnover of virtual asset transactions, not total investment in the Kyrgyz economy
- The head of the agency reported the drafting of a package of subordinate legislation governing the issuance and circul
Context
The National Agency for Virtual Assets and Blockchain Technologies was established by a decree of President Sadyr Japarov to form a system of state regulation of the virtual assets market, as well as to ensure user protection and create conditions for the development of digital financial instruments.
