Kyrgyzstan President Brings CBDC a Step Closer to Reality

CBDC Tracker cited in Lawfare on the proliferation of CBDCs

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Kyrgyzstan President Brings CBDC a Step Closer to Reality

Kyrgyzstan President Sadyr Japarov took his country a step closer to issuing its own central bank digital currency Thursday, signing legislation that gives the "digital som" legal status.The central Asian country is still deciding whether or not to issue a CBDC, but Thursday's amendments to the Constitutional Law of the Kyrgyz Republic ensures that the digital som will be treated as legal tender if the central bank goes ahead with issuing a CBDC…

Kyrgyzstan’s president signs CBDC law giving ‘digital som’ legal status – #CryptoUpdatesGNIT

Kyrgyzstan President Sadyr Zhaparov has signed a constitutional law authorizing the launch of a central bank digital currency pilot project while also giving the “digital som” — the national currency in digital form — legal tender status. The law gives the National Bank of the Kyrgyz Republic the exclusive right to issue the digital som, establish the rules for its issuance and circulation, and oversee the platform on which the national currency…

CZ-consulting Kyrgyz Republic greenlights pilot CBDC program, assigns legal status

After announcing an advisory relationship with Binance founder Changpeng Zhao (CZ), the Kyrgyz Republic has approved a law granting legal status to its proposed central bank digital currency (CBDC). The announcement is in line with the country’s strategy to embrace digital finance systems. In recent times, digital currencies have gained more traction globally as more nations seek to modernize their financial systems. These nations are turning to…

Kyrgyzstan Says Yes to Central Bank Digital Currency — Starts Testing “Digital Som”

The post Kyrgyzstan Says Yes to Central Bank Digital Currency — Starts Testing “Digital Som” appeared first on Coinpedia Fintech News While countries like the U.S. and others in Asia are still thinking about the issuance of CBDC, Kyrgyzstan has taken a clear step forward. The country has approved a pilot project for its own digital money called the digital som. This new version of the national currency will be treated as legal tender if the CB g…

Trump Shelved CBDCs for Stablecoins: But Kyrgyzstan CBDC Is Next Phase of Splinternet

Kyrgyzstan is entering the world of CBDCs (central bank-backed digital currencies) with President Sadyr Japarov approving the “digital som” for widespread use. With rivals like Russia and Belarus, who are nearing completion of their CBDCs, the race to digitize national currencies is on.  Humor us while we put on our tinfoil hat… ask yourself, are CBDCs opening up a split in technology? Will we see a “Splinternet?” revolution as some reject CBDCs…