Payment system designation and access.

Submitted 10 April 2026 and enacted 15 July 2026, it moves crypto trading from the Payment Services Act into the FIEA and adds issuer disclosure and an insider-trading ban. Promulgated on 23 July 2026, its penalties for unregistered business took effect on 12 August 2026; the main crypto provisions start on a date set by Cabinet Order within one year of promulgation, and a few other provisions on fixed dates in 2027.

Sets the 1 June 2026 start date and lets trust-type stablecoins hold capped shares of JGBs and early-redeemable term deposits as reserves.

Law No. 66 of 2025 adds an intermediary registration for crypto and stablecoin services, lets the FSA order assets kept in Japan, and widens reserve assets for trust-type stablecoins. Enacted 6 June 2025, in force 1 June 2026.

Created electronic payment instruments, limiting issuance to banks, trust companies and funds transfer providers and licensing intermediaries. In force since 1 June 2023.

Introduced electronically recorded transferable rights, the legal basis for security tokens, and moved crypto derivatives into the FIEA. In force since 1 May 2020.

The statute that has governed crypto-asset exchange services since April 2017 and electronic payment instruments since June 2023; the official text is current to Law No. 64 of 2026. Crypto provisions move to the FIEA once that amendment's main provisions start.

Would let crypto assets designated by the FSC serve as the underlying asset of funds and derivatives, with trust companies holding them through qualified custodians: the legal route to spot bitcoin ETFs.

Explains the design of Bakong, the NBC's blockchain-based payment system for riel and dollar transfers between banks and wallets, and its possible implications for monetary policy.

Issued 25 July 2025 and effective 1 August 2025, replacing PMK 68/2022. Buyers no longer pay VAT, and income tax is 0.21% final on licensed local platforms and 1% on designated foreign ones.

States that virtual currency is not legal tender under the Currency Law (UU 7/2011) and bars payment system operators from processing it. The payment ban still stands.

Draft amendments to the payment systems manual that would let merchant acquirers onboard virtual asset service providers, alongside casinos and money service businesses, only under direct merchant arrangements with enhanced due diligence. It would also pause new payment system operator registrations for 12 months; comments closed on 1 October 2026.

Draft law creating a stablecoin issuance licence, with an interest ban, stress testing, recovery plans and recognition of some foreign stablecoins. Comments close 16 October 2026.

The core licensing law for payment services, in force since 28 January 2020. It makes DPT dealing, exchange, transfer and custody licensed activities.

After digital assets were designated as derivatives underlyings (Notification Kor Thor. 2/2569 of 5 March 2026), proposes letting licensed crypto operators apply for derivatives licences without forming new entities. Comments closed on 20 May 2026.

Baht-backed stablecoins intended for payment may be e-money under the Payment Systems Act 2017, and issuers must consult the BOT before operating.

Creates a Committee on Digital Assets and Payment Systems at the NBK. Orders a bill on stablecoin payments and crypto custody and the issuance of tokenised government securities by 31 December 2026, an approach to DeFi by 1 November 2026, and a bill by 1 April 2027 exempting individuals from income tax on 2026 to 2028 trades through Kazakh providers. In force from signing.

Designated Grinex as the successor to Garantex and Old Vector, the Kyrgyz issuer of the rouble-backed A7A5 token, along with other firms in Russia and Kyrgyzstan.

Consults on how the RBA's settlement system could support tokenised assets, including stablecoin issuer access to central bank reserves and tokenised reserves. Submissions close 30 October 2026.

FinTech objectives for 2026: finalise licence classes under the Payment Services Act, publish the outcome of the embedded supervision pilots, and propose legislative amendments for tokenised instruments.

Proposes a Payment Services Act to replace the Money Service Business Act 2016, with tiered licence classes. Issuing or redeeming stablecoins would be a payment activity, with exemptions for DABA-licensed firms.