The Service for Regulation and Supervision over the Financial Market warns citizens against investing in the virtual asset MCN Coin, which has not undergone state registration and is not included in the relevant registries. The agency’s press service reported.
According to its information, Birik Turan LLC repeatedly applied to the agency since March 2024 for the registration of MCN Coin issue in the amount of 12 million soms. However, the request was denied due to non-compliance with Kyrgyzstan’s virtual asset market legislation.
In connection with this and the absence of MCN Coin in the listing of licensed crypto exchanges, the Service for Regulation and Supervision over the Financial Market on October 28, 2024, asked the Ministry of Internal Affairs to make a legal assessment and take the necessary measures against the organizers of the issue and circulation of MCN Coin.
The agency received a notification from the investigative service of the Ministry of Internal Affairs about the registration of this fact and the beginning of an investigation.
In December 2024, the Department of Internal Affairs of the Oktyabrsky District of Bishkek contacted the Service for Regulation and Supervision over the Financial Market for clarification on the legality of the incentive lottery associated with MCN Coin. The agency explained that no authorization to conduct such a lottery had been issued. Moreover, letters were sent to the Oktyabrsky District Department of Internal Affairs with a request to take measures in accordance with the law regarding the issuer of MCN Coin and the organizers of the lottery.
At the moment, the investigation into the activities related to MCN Coin is ongoing. The agency provided all the necessary information and documents on this issue to the State Committee for National Security.
