Karim Khanjeza, the MP (Member of Parliament) of Kyrgyz, wants the legalization of crypto coins in the country of Kyrgyzstan. During a parliamentary committee meeting, the MP had discussed the importance of the law to combat the corruption in cryptocurrency.
While making his speech in the parliament, MP Khanjeza advocated for the need of developing a legal framework for the existing crypto market in the country. According to him, there is nothing in this world that is currently growing as fast as cryptocurrency, and he suggested making revisions to the draft law and incorporating virtual assets in them.
Furthermore, he mentioned that the country is in the perfect position to initiate the development of creating its own CBDC because of the tremendous crypto popularity in Kyrgyzstan. He has also suggested creating a crypto hub by inviting highly qualified scientists to the field and following the footsteps of the United Arab Emirates to become a regional crypto hub for the rapidly increasing crypto market.