**Kyrgyzstan Eyes Digital Currency with New Legislation**

The National Bank of the Kyrgyz Republic (NBKR) has unveiled draft legislation to introduce a digital som, a central bank digital currency (CBDC). The proposed amendments target the Constitutional Law on the National Bank and the Law on the Payment System.

- **Testing Phase**: Twelve companies submitted proposals in March to test a digital som prototype. A demo was created in April, but no technology provider has been chosen yet.

- **Platform Details**: The NBKR will operate the platform, with banks and the Central Treasury as participants. Users, including individuals and businesses, will manage digital soms via mobile apps.

- **Legal Tender**: The digital som will be legal tender, with rules on privacy, cybersecurity, and dispute resolution to follow.

- **Public Input**: The draft laws are open for public comment until Sept. 7 and could be enacted by Jan. 1, 2027.

Kyrgyzstan, with its emerging crypto mining sector, continues to embrace digital finance.