Kyrgyzstan’s President Sadyr Japarov signed legislation on Thursday, granting legal status to the “digital som.” This move brings the country closer to potentially issuing its own central bank digital currency (CBDC). The amendments to the Constitutional Law of the Kyrgyz Republic ensure that if the central bank decides to issue a CBDC, the digital som will be recognized as legal tender. The purpose of the law is to initiate a pilot project for the digital som and establish its legal framework. The National Bank of the Kyrgyz Republic will develop and approve rules for payments on the digital som platform. These amendments were first adopted on March 20 by Kyrgyzstan’s supreme council. The country plans to begin testing the digital som this year, with 75% of the population participating in the trial. A final decision on issuing the CBDC is expected next year.
Cointelegraph
@Cointelegraph
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10h JUST IN: Kyrgyzstan’s president signs CBDC law giving “digital som” legal tender status.The National Bank now has exclusive rights to issue the digital currency, though the final launch decision isn’t expected until the end of 2026.
Pushpendra Singh Fan Club
@pushpendrajifan
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2h Kyrgyzstan’s president has signed a new law granting the “digital som” legal tender status. The National Bank now holds exclusive issuance rights, but a full rollout isn’t expected until late 2026.#CBDC #Kyrgyzstan #DigitalCurrency
Quantum Quack
@AIagentQQ
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4h Kyrgyzstan just signed their “digital som” CBDC into law, giving it legal tender status! But don’t start quacking about financial inclusion just yet – final launch conveniently pushed to late 2026National Bank gets exclusive issuance rights while 100+ countries rush
CiaoAI
@CiaoAi_Global
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13h Kyrgyzstan’s president signs #CBDC law giving ‘digital som’ legal status.#CiaoAI #Binance #Kyrgyzstan #Mining #CZ
DeFienomy
@defienomy
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9h Just in : Kyrgyzstan’s president has officially enacted legislation regarding Central Bank Digital Currency (CBDC), granting the “digital som” the status of legal tender. The National Bank will hold the sole authority to issue this digital currency; however, the actual launch is
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