YEREVAN, February 4. /ARКА/. The draft law developed by the Central Bank of Armenia to regulate crypto assets will soon be submitted to the Armenian government for approval and then sent to parliament, the regulator’s chairman Martin Galstyan said at a press conference today.
“We finalized the draft law in April 2024. After that, as far as I remember, there were at least three discussions with industry representatives in parliament and the government. The last discussions were at the beginning of this year. There is a clear intention to move forward. In the near future,” he said.
He noted that when developing the draft law, the regulator was guided by the standards of MiCA (EU law on the regulation of cryptocurrencies) and FATF (Financial Action Task Force on Money Laundering).
When asked whether the bill sets a transaction threshold of up to 1,000 euros that will not require KYC (Know Your Customer), Galstyan said that this issue is still being discussed.
“This decision will be made, but I cannot specifically say whether it will be 1,000 euros or how much. First of all, we are guided by FATF standards, which, in my opinion, create a good field for bona fide players,” he said.
Earlier, Galstyan stated that the initiative is based on the best global regulatory experience that European countries currently have, as well as on the principle of “one risk, one regulation.” -0-
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