Kyrgyzstan suspects a number of crypto companies of money laundering
Date: 2025-02-28 Author: Gabriel Deangelo Categories: IN WORLD
On February 26, the State Financial Intelligence Service under the Ministry of Finance of Kyrgyzstan (SFIS) added several cryptocurrency companies to the register of organizations associated with the laundering of criminal proceeds.
The document containing this list is posted in the closed part of the official website, but its contents became known thanks to publications in Telegram channels.
The list included 22 companies, including those registered in Russia. The state regulator prohibited banks and non-financial institutions from cooperating with them.
Later, after reviewing the data, the SFIS excluded the TokenSpot crypto exchange and the CashBack exchanger from the register. Their clients regained access to banking services in Kyrgyzstan. Representatives of the crypto community expressed hope that other companies will also be able to resolve the situation and lift the restrictions.
By the end of 2024, 137 licenses were issued to virtual asset service providers in Kyrgyzstan, including eight crypto exchanges and 129 exchangers. Eight industrial mining operators also received certificates for their activities.
The regulator is currently considering possible changes in the regulation of the cryptocurrency market aimed at eliminating shortcomings and increasing transparency. All interested parties can submit their proposals until March 10.
Earlier, the Ministry of Finance of Kyrgyzstan reported a 50% year-on-year decrease in tax revenues from mining companies.
