Crypto news

Kyrgyzstan’s Central Bank warns of the dangers of cryptocurrencies

The National Bank of Kyrgyzstan warned of the possible risks associated with cryptocurrencies.

The regulator stressed that the only means of payment in the country is KGS:

The use of virtual assets, particularly when buying and selling goods and services as a means of payment in Kyrgyzstan will be a violation of the legislation of our state.

The statement of the National Bank also mentions the risks associated with cryptocurrencies due to “lack of collateral,” the regulatory authority and volatility of rates.

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