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On February 28, 2025, the government of Armenia approved new rules aimed at regulating the cryptocurrency sector, reports Bits.media. This step is aimed at increasing financial transparency and reducing risks associated with cryptocurrencies.
As noted by the head of the Central Bank of Armenia, Martin Galstyan, the new order does not affect the technological side of cryptocurrencies but focuses exclusively on financial aspects such as transparency and security of financial transactions. Companies engaged in the issuance and trading of cryptocurrencies are now required to disclose information about their owners and comply with minimum capital requirements.
One of the key goals of the new rules is to simplify procedures for issuing cryptocurrencies. This should help eliminate risks associated with the lack of regulation, which allowed individuals to issue and trade cryptocurrencies without proper control, opening up possibilities for asset price manipulation.
In addition, a so-called "financial hygiene" mechanism will be introduced, which includes monitoring the founders of cryptocurrency companies and their sources of capital. This will help reduce risks associated with money laundering and other illegal activities in the cryptocurrency sphere.
Armenian Deputy Prime Minister Tigran Khachatryan stated that the implementation of unified cryptocurrency regulation rules will create conditions for Armenian banks to officially offer cryptocurrency services, which have long attracted the interest of the country's financial institutions.
It is also worth noting that in response to the growth of crypto crimes in the country, it was previously stated that the adoption of new legislation is necessary to ensure proper control over the digital asset industry.
The new rules put Armenia on the path to creating a more structured and controlled cryptocurrency market, which promises to have a positive impact on the development of this sector in the country.