{"id":22707,"date":"2025-04-18T12:17:15","date_gmt":"2025-04-18T12:17:15","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22707"},"modified":"2025-04-18T12:17:15","modified_gmt":"2025-04-18T12:17:15","slug":"kyrgyzstan-approves-cbdc-pilot-grants-digital-som-legal-tender-status","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22707","title":{"rendered":"Kyrgyzstan Approves CBDC Pilot, Grants Digital Som Legal Tender Status"},"content":{"rendered":"
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Kyrgyzstan has taken a <\/span>major<\/span> step toward embracing digital currency,<\/span> as President Sadyr Zhaparov signed a constitutional law authorizing a central bank digital currency (CBDC) pilot project.<\/span><\/p>\n

The initiative formally grants legal tender status to the<\/span> \u201c<\/span>digital som,<\/span>\u201d <\/span>a virtual version of the <\/span>country\u2019s<\/span> national currency.<\/span><\/p>\n

Announced by the <\/span>presidential office on 17 April 2025<\/span><\/a>, the law gives the National Bank of the Kyrgyz Republic full authority over the issuance, circulation, and regulatory framework <\/span>of the digital som<\/span>.<\/span><\/p>\n

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Kyrgyzstan\u2019s<\/span> Central Bank To Oversee Digital Som Infrastructure<\/span><\/h2>\n

The central bank will also oversee the platform on which the digital currency will operate. While testing <\/span>is expected<\/span> to begin this year, a final decision on full implementation <\/span>is not anticipated<\/span> until late 2026, according to a report from Trend News Agency.<\/span><\/p>\n

If fully launched, the digital som would require a robust system of cryptographic protections to guard against fraud and unauthorized transactions. <\/span><\/p>\n

The pilot comes amid growing global interest in CBDCs, though critics continue to voice concerns about financial surveillance and government overreach.<\/span><\/p>\n

Kyrgyzstan\u2019s<\/span> parliament, the Jogorku Kenesh, approved the constitutional amendment on March 18, paving the way for <\/span>Zhaparov\u2019s<\/span> endorsement. <\/span><\/p>\n

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I\u2019ve been busy these past few days with the Central Asia\u2013EU Summit, but today I finally had the chance to read through the comments. I\u2019m really glad to see such lively interest in Kyrgyzstan!
Some people mentioned in the comments that someone allegedly promised a building for\u2026 https:\/\/t.co\/Dd6aK2lLiW<\/a><\/p>\n

\u2014 Sadyr Zhaparov (@sadyrzhaparovkg) April 7, 2025<\/a><\/p>\n<\/blockquote>\n