YEREVAN, April 21. /ARKA/. At a session on Friday, the National Assembly of Armenia adopted in the first reading the draft law “On Crypto assets” along with amendments to several related laws.
As previously stated by Armen Nurbekyan, Deputy Chairman of the Central Bank of Armenia, this legislation marks the first step toward regulating the crypto asset sector in Armenia.
“New opportunities are being created to offer more convenient and faster services. At the same time, real-world conditions have demonstrated numerous risks, including those related to money laundering and consumer protection. Therefore, our role is to balance these risks. This is the main objective of the proposed law,” Nurbekyan emphasized.
Among the primary regulated services listed by Nurbekyan are:
- the launch of trading platforms;
- storage of crypto assets;
- issuance of tokens (stablecoins) pegged to assets;
- purchase and sale (exchange) of crypto assets on one’s own behalf;
- purchase and sale of crypto assets on behalf of clients;
- reception and transmission of orders for crypto asset transactions;
- placement of crypto assets;
- crypto asset portfolio management;
- consulting services related to crypto assets;
- and the transfer of crypto assets.
The Government of Armenia approved the Law on Crypto assets during its February 27, 2025 session. The law aims to establish a regulatory framework for the circulation, exchange, and provision of services related to cryptocurrencies.
According to Finance Minister Vahe Hovhannisyan, the adoption of the law will create a predictable environment with clearly defined rights and responsibilities for businesses operating in the field, along with adequate safeguards for users and mechanisms to ensure transparency.
The Central Bank notes that the law establishes minimum capital thresholds for companies and entry conditions for market participants. It also sets requirements for reporting, the protection of client funds, and the prevention of market abuse. Furthermore, it mandates separate accounting of crypto asset services both for each client and for the provider’s own funds as well as regular reporting to the Central Bank and clients.
