Kyrgyzstan

• Developed and clear regulation of cryptoassets. Regulation and licensing of virtual asset service providers has been established - it provides insight into licensing procedures but is not redundant. 
• Strategically located in Central Asia and the CIS region. Jurisdiction is optimal for entering markets in this part of the world. 
• Positive practice of licensing. Many companies have received a license. As of the beginning of 2025, 144 crypto exchanges and 13 crypto exchanges are registered in Kyrgyzstan.
• Special regulation of mining, issuance and decentralized services. There is registration for miners and issuances of virtual assets. There is regulation for decentralized crypto exchanges.
• Timeframe for obtaining a license. Obtaining a license on average takes from 3 to 5 months, which is average compared to other jurisdictions. Depending on the specifics of the business, in some cases it is possible to obtain a license in an accelerated procedure.

• Requirements for the use of servers in Kyrgyzstan. Virtual asset service providers must have a platform with servers in Kyrgyzstan.
• Requirements for availability of local directors. At least 1/3 of the Board of Directors and the CEO must be a resident of Kyrgyzstan. 
• There is no specific regulation for DAOs. For some, the lack of strict regulations may be an advantage, but for those who value transparency and a clear regulatory framework, the uncertainty can be a major obstacle.

Level of costs for legalization in the jurisdiction - medium

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• State duty for company formation: USD 13.
• Authorized capital: varies depending on the type of license from USD 470,000 to USD 1.2 million.
• State fee for reviewing the application for a license: USD 12.
• Annual state fee for the license: none.

• Filling out the registration form with key information and preparing data for registration.
• Preliminary Name Verification.
• Formalization of constituent documents.
• Registration in the state register of companies and tax registration.

• Preparing the main documentation package (including a business plan) and applying for a cryptolicense. 
• Regulator's review of the application.
• Payment of the initial state application fee.
• Final Approval.