Justin Sun, founder of the decentralized platform TRON, has offered his backing for Kyrgyzstan's growth as a major player in the crypto sector. The country has seen rapid expansion in the use of stablecoins, including the KGST token, which processed over $100 billion in transactions since its launch.
The National Council for the Development of Virtual Assets and Blockchain Technologies under the President of the Kyrgyz Republic is working to formalize legal guidelines for cryptocurrencies and stablecoins. This includes establishing oversight of mining and trading activities, as well as defining how digital assets can be issued and circulated.