Kyrgyzstan plans to introduce the digital som by 2027, with the National Bank proposing amendments to the Constitutional Law “On the National Bank” to facilitate this. The proposal includes creating a legal framework and outlining the National Bank’s new functions and powers, focusing on issuing and managing the digital som. This digital currency aims to enhance the financial sector, improve public administration, and foster innovation in payment systems, offering benefits like more transparent and secure transactions, reduced bureaucratic obstacles, and convenient access to financial services through mobile applications.
