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Planning to Launch a Crypto Exchange in Kyrgyzstan?

Our expert guide will help you navigate the entire licensing process without errors or delays.

 

 

What is a Crypto Exchange License?

 

 

A crypto exchange license is an official authorization issued by the National Bank of the Kyrgyz Republic (NBKR) to operate a business exchanging cryptocurrencies for fiat money and vice versa.

 

Validity: 5 years, with the option to renew

 

 

 

Key Requirements for Obtaining a License

 

 

Financial Requirements:

 

• Minimum authorized capital: 10 million KGS

• Own funds: at least 10 million KGS

• Financial stability: confirmed by audited financial statements

 

 

Organizational Requirements:

 

• Registration as a legal entity in the Kyrgyz Republic

• Physical office located in the Kyrgyz Republic

• Qualified personnel with experience in finance

• Internal control and risk management system

 

 

Technical Requirements:

 

• Reliable IT infrastructure

• Cybersecurity systems

• Compliance with international FATF standards

• KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures

 

 

 

 

Licensing Procedure

 

 

Step 1: Document Preparation (30–45 days)

✓ Prepare founding documents

✓ Develop internal policies and procedures

✓ Prepare a business plan and financial forecasts

✓ Obtain certificates and references

 

Step 2: Application Submission (1 day)

✓ Submit the complete document package to NBKR

✓ Pay the licensing fee

 

Step 3: Application Review (up to 85 days)

✓ Formal document check (15 days)

✓ Application examination (70 days)

✓ NBKR decision

 

Step 4: License Issuance (5–10 days)

✓ Notification of approval

✓ Receive the license

✓ Registration in the licensed organizations’ registry

 

 

 

Required Documents

 

 

Core Documents:

 

1. License application

2. Founding documents (charter, registration certificate)

3. 3-year business plan with financial projections

4. Auditor’s report on financial condition

5. Bank statements showing fund movements

 

 

Personnel Documents:

6. Information about management and qualifications

7. Certificates of no criminal record for executives

8. Education and work experience documents

 

Technical Documents:

9. IT system and technology process description

10. Security and data protection policies

11. KYC/AML procedures and transaction monitoring

12. Business continuity plan

 

 

 

Licensing Costs

 

 

• NBKR licensing fee: 100,000 KGS

• Document preparation: 200,000 – 500,000 KGS

• Legal support: 300,000 – 800,000 KGS

• IT infrastructure: 1,000,000 – 3,000,000 KGS

  Total costs: 1,600,000 – 4,400,000 KGS

 

 

Excluding the minimum authorized capital of 10 million KGS

 

 

 

Licensing Timeline

 

 

• Minimum: 85 days (with perfect preparation)

• Realistic: 120–145 days (with revisions)

• Maximum: up to 180 days (in case of significant issues)

 

 

 

 

Grounds for Refusal

 

 

Common reasons for denial:

 

• Insufficient authorized capital

• Incomplete document package

• Non-compliance of executive qualifications

• Errors in the business plan or financial forecasts

• Deficiencies in risk management system

• Failure to meet cybersecurity requirements

 

 

 

 

Benefits of a Licensed Crypto Exchange

 

 

For Business:

✓ Legal operation in the Kyrgyz Republic

✓ Access to banking services

✓ Ability to advertise and market services

✓ Protection against regulatory risks

✓ Trust from clients and partners

 

For Clients:

✓ Security guarantees for funds

✓ Protection of personal data

✓ Ability to appeal to the regulator

✓ Risk insurance

 

 

 

Licensee Obligations

 

 

Ongoing Obligations:

 

• Maintain capital requirements

• Submit reports to NBKR

• Conduct audits

• Comply with AML/CFT requirements

• Notify of any business changes

 

 

Reporting Frequency:

 

• Monthly: activity reports

• Quarterly: financial reports

• Annually: auditor’s report

• Upon request: special reports

 

 

 

 

Next Steps

 

 

Ready to start the licensing process?

 

1. Assess your project’s readiness for licensing

2. Prepare financing (minimum 15 million KGS)

3. Build a team of qualified specialists

4. Develop a business plan and technical documentation

5. Consult licensing experts

 

 

 

 

Need Assistance?

 

 

The crypto exchange licensing process is complex, requiring deep legal knowledge and practical experience.

 

Our services include:

 

• Licensing requirements consultation

• Preparation of a complete document package

• Legal support throughout the procedure

• Assistance in resolving NBKR comments

• Post-license support

 

 

Contact us for a personalized consultation!

 

Information is current as of September 2025. Requirements may change according to updates in Kyrgyz Republic legislation.

 

 

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