Summary
- It was reported that Sadyr Japarov, the President of Kyrgyzstan, signed an amendment granting legal status to the Digital Som.
- The purpose of this amendment is to conduct prototype testing and establish a legal foundation for the Digital Som.
- It was reported that if a CBDC is issued in the future, the Digital Som can be recognized as legal tender.
According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrency), on the 17th (local time), Sadyr Japarov, the President of Kyrgyzstan, signed an amendment granting legal status to the Central Bank Digital Currency (CBDC) 'Digital Som'.
The purpose of this amendment is to start prototype testing of the national digital currency, Digital Som, and to establish the legal foundation and status for it.
Currently, Kyrgyzstan has not made a final decision on issuing a CBDC, but through constitutional amendments, if the central bank decides to pursue CBDC issuance in the future, the Digital Som can be recognized as legal tender.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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