BISHKEK, Kyrgyzstan, December 1. The Financial Market Regulation and Supervision Service of Kyrgyzstan has approved a percentage-based risk scoring model for virtual asset service providers (VASPs) to strengthen risk-based oversight, Trend reports via the service.
The model, aligned with FATF standards and practices used in EAG member states, assigns VASPs to low, medium, high, or critical risk tiers based on their business model, client base, transaction types, and compliance quality.
Supervisory measures will fluctuate according to the assessed
risk profile, encompassing standard surveillance, augmented
regulatory frameworks, transactional limitations or prohibitions,
and obligatory disclosure of anomalous behavior.
The regulatory authority indicated that the scoring mechanism will
emerge as a pivotal component of its enhanced oversight paradigm,
augmented by advanced digital transaction analytics instruments
aimed at bolstering market robustness and safeguarding client
interests.
This new risk-scoring model is a response to the need to strengthen Kyrgyzstan's position within the global anti-money laundering and counter-terrorist financing (AML/CFT) framework, particularly as a member of the Eurasian Group on Combating Money Laundering (EAG). The foundation for this supervision framework was established with the Law of the Kyrgyz Republic "On Virtual Assets," which came into force in 2022. Since then, the regulatory focus has intensified, with the Cabinet of Ministers adopting a resolution in September 2025 that tightened requirements for Virtual Asset Service Providers (VASPs). These mandates include mandatory AML/KYT (Know Your Transaction) testing through regulator-approved providers and stringent requirements for the approval of key managerial personnel, such as directors and compliance officers. The new risk-scoring model provides the necessary technical mechanism to implement these heightened legal requirements and ensures compliance with FATF Recommendation 15 (Virtual Assets and VASPs) and the risk-based approach (RBA) principle.