BISHKEK, Kyrgyzstan, April 30. A fresh piece of legislation inked by President Sadyr Zhaparov lays down the law, bringing a stick to those who turn their noses up at Kyrgyzstan's national digital currency, the digital som, Trend reports via the presidential administration.
The provision is part of broader legislative amendments aimed at defining the legal status of the digital som and establishing a framework for its pilot launch.
Adopted by the parliament on March 20, 2025, the law amends several key legal acts, including the Civil Code, the Budget Code, and the Law on Consumer Protection.
Key provisions of the law include:
- Incorporating the concept of the digital som into existing laws;
- Prohibiting the use of terms like “digital som” and “digital som platform” in business names;
- Adding a new article (303-1) to the Code of Offenses, introducing fines for refusal to accept the digital som;
- Expanding the Law on the Payment System with definitions and regulations related to digital currency, including requirements for finality of settlements;
- Introducing requirements for banks when conducting transactions involving the digital som.
Thus, the digital som will be in the same boat as cash and non-cash forms, with all three being on equal footing and fully interchangeable.
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