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Chronicle
2025
Kyrgyzstan registered a state stablecoin with a gold reserve
Kyrgyzstan launched the first issue of the national stablecoin USDKG, a digital token backed by physical gold and pegged to the US dollar. The official launch ceremony took place in Bishkek on November 20, 2025. This was reported by the Kazinform agency. Read more here.
All mining farms in Kyrgyzstan are disconnected due to power shortages
In November 2025 power engineering specialists Kyrgyzstan , the Ministry announced the shutdown of all mining farms in the republic due to lack of electricity. Energy Minister Taalaibek Ibraev ordered to temporarily de-energize enterprises amid a shortage of electricity in the country.
According to RBC, in common personnel, employees of the National Electric Network of Kyrgyzstan OJSC turn off the installations used for mining and put seals on them that exclude reconnection. The equipment in the video belongs to the MBT Stroy company.
According to the Ministry of Energy of Kyrgyzstan, cryptocurrency was legally mined in the republic on two mining farms that concluded relevant agreements in 2023. For this, electricity supplied to Kyrgyzstan from Russia was used there. Both farms operated in the legal field and had official permission to operate.
The head of the State Committee for National Security, Kamchybek Tashiev, in an interview with Region-TV, clarified that the work of these enterprises was stopped until the end of March 2025. After this period, the authorities will assess the situation with energy supply and decide on the possibility of resuming the work of farms.
The republic's authorities announced a power saving regime due to low water in the Toktogul reservoir, which feeds the local hydroelectric power station. The low water level in the reservoir led to a decrease in electricity generation at the hydroelectric power station. This is the main source of electricity for the republic.
Energy Minister Taalaibek Ibraev said that in order to avoid overloading the national energy system in the country, it will be necessary to save electricity until the end of the heating season. According to him, the situation with energy supply remains tense and requires emergency measures.[1]
Creation of a national cryptocurrency reserve in Kyrgyzstan
In September 2025, the Kyrgyz parliament adopted a law on virtual assets. The new provisions introduce the definitions of "state mining" and "state crypto reserve."
According to the Minister of Economy and Trade of Kyrgyzstan Bakyt Sydykov, the creation of a crypto reserve will allow the country to expand its sources of savings and strengthen financial security. This reserve will be a collection of digital assets owned by the state, and will be formed through state mining of cryptocurrencies, the release of stablecoins secured by national currency, the digitalization of real assets, as well as the direct purchase of cryptocurrencies and digital tokens.
The minister also noted the presence of a special tariff for mining and assured that state production will not reduce the volume of electricity supplies to the population, since it will not use the capacities of TPPs and hydroelectric power plants intended for the needs of consumers.
According to CoinSpot, the President of Kyrgyzstan Sadyr Japarov will approve specific rules for the operation of the reserve and its use. These amendments to the law create a legal basis for launching stablecoins - digital currencies whose value is tied to fiat reserves. According to experts, the transfer of material assets to digital format through tokens will open up opportunities to attract foreign investments in power, production and infrastructure development.
This strategy is aimed at expanding the ways of accumulating capital, protecting against the volatility of classical markets, as well as accelerating the promotion of financial technologies and the blockchain ecosystem. Nevertheless, as CoinSpot analysts point out, opponents emphasize the existing dangers: significant fluctuations in digital currencies, as well as the need for a clear legal field, can create obstacles to the implementation of the project.[2]
Binance founder became adviser to the President of Kyrgyzstan on digital assets
On May 3, 2025, the President of the Kyrgyz Republic Sadyr Japarov signed a decree on the creation of the National Council for the Development of Virtual Assets and Blockchain Technologies. The structure includes the founder of the cryptocurrency exchange Binance Changpeng Zhao and the regional head of Binance for Central and Eastern Europe, Central Asia and Africa Kirill Khomyakov. Read more here.
Notes
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