Legal News

Legal Grata International (September 2022)

Table of contents:

  • On the issues of regulation of relations arising from the circulation of virtual assets
  • Оn amendments to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic “On measures to ensure food security and support for domestic agricultural producers and peasant (farm) households in the Kyrgyz Republic” dated March 11, 2022 No. 137
  • On amendments to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic “On approval of the procedure for providing guarantees to subjects of the national economy” dated June 20, 2022 No. 326
  • On approval of the Instruction “On conducting inspections of the activities of payment system operators and payment organizations”

On the issues of regulation of relations arising from the circulation of virtual assets

Based on the Decree of the Cabinet of Ministers of the Kyrgyz Republic of September 16, 22, No. 514, in order to regulate the relations arising from the circulation of virtual assets, the Cabinet of Ministers of the Kyrgyz Republic adopted the following regulatory legal acts:

Regulations on the activity of the operator of trading in virtual assets (crypto-exchanges) and maintaining the register of operators of trading in virtual assets (crypto-exchanges);

Regulations on the issue (issue), circulation of virtual assets and on the procedure for maintaining the Unified State Register of Issues of Virtual Assets;

Regulations on the activities of the operator of the exchange of virtual assets and the maintenance of the register of operators of the exchange of virtual assets;

The procedure for registration and issuance of a certificate for mining activities.

Оn amendments to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic “On measures to ensure food security and support for domestic agricultural producers and peasant (farm) households in the Kyrgyz Republic” dated March 11, 2022 No. 137

Decree of the Cabinet of Ministers of the Kyrgyz Republic dated September 1, 2022 No. 479 determines that for the period from March 20 to October 31, 2022, set the rate of value added tax (VAT) in the amount of zero (0) percent for the following supplied and imported goods: sugar (1701 99 100), raw cane sugar (1701 13 и 1701 14), lump sugar (1701 99 1009, 1701 99 1001).

On amendments to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic “On approval of the procedure for providing guarantees to subjects of the national economy” dated June 20, 2022 No. 326

By Resolution of the Cabinet of Ministers of the Kyrgyz Republic dated September 9, 2022 No. 509, the Procedure for providing guarantees to financial and credit organizations to subjects of the national economy was developed.

The procedure regulates the procedure for providing a guarantee by the Financial and Credit Fund under the Ministry of Finance of the Kyrgyz Republic (hereinafter referred to as the Fund) to subjects of the national economy.

On approval of the Instruction “On conducting inspections of the activities of payment system operators and payment organizations”

The Resolution of the Board of the NBKR dated September 14, 2022 No. 2022-P-14/57-1-(PS) approved the Instruction “On conducting inspections of the activities of payment system operators and payment organizations”.

The Instruction establishes the objectives, types and procedure for conducting inspections of the activities of payment system operators and payment organizations that have a license / license from the National Bank of the Kyrgyz Republic for the right to carry out the following activities:

– provision of services for receiving and making payments and settlements for goods and services that are not the result of their activities, in favor of third parties through payment systems based on information technology and electronic means and methods of making payments;

– provision of services for receiving, processing and issuing financial information (processing, clearing) for payments and settlements of third parties to participants in the payment system, this processing, clearing center.