Armenian Government Plans to Set Rules for Cryptocurrencies

Armenia is planning to introduce clear and uniform rules for cryptocurrencies. This decision was shared by the Deputy Governor of the Central Bank of Armenia (CBA),  Armen Nurbekyan, during a meeting at the National Assembly on Monday. The goal is to bring more order and safety to the world of digital money in the country.

Until now, Armenian laws about cryptocurrency mostly focused on the companies that exchanged one type of digital money for another. But as this industry grows, the government believes it is time to expand its rules. The new plan will include a wide range of people and companies working with crypto-assets, not just the exchangers.

Nurbekyan made it clear that the government will not interfere with the technology behind cryptocurrencies — how they are built or how they work. Instead, the focus will be on the financial side: who owns the companies, where the money is coming from, and how to keep the system safe from misuse.

Under the new rules, all companies in Armenia that issue or trade crypto-assets will have to:

• Share information about their owners

• Meet minimum capital requirements

• Follow clear steps when offering new digital currencies

  
  

This move is expected to reduce the risks connected to illegal activities, such as money laundering.

One of the major ideas introduced by the Central Bank is a system of “financial hygiene.” This means the government will keep a close watch on the founders of crypto-related companies and the sources of their capital. According to the Central Bank, this will help protect the country from risky financial activities and ensure that only trusted companies are allowed to operate.

Nurbekyan also mentioned that these new rules could open the door for traditional Armenian banks to get involved with cryptocurrencies in a safe and legal way. “In the presence of uniform rules, Armenian banks, which have long been interested in this domain, can also officially offer cryptocurrency services,” he said.

The law is still in the early stages, but it has already passed an important step. After the discussions on Monday, the National Assembly’s Standing Committee on Financial-Credit and Budgetary Affairs gave its approval to the new draft law. This shows that lawmakers support the plan and are moving forward with it.

If the full National Assembly votes in favor of the law, Armenia will soon have one of the most organized and clear systems for cryptocurrency regulation in the region. This could encourage more local and international businesses to invest in Armenia’s digital economy — but with proper safety checks in place.

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