YEREVAN, September 9. /ARКА/. Martin Galstyan, the Chairman of the Central Bank of Armenia, asserts that a pragmatic strategy is essential to mitigate risks associated with the regulation of the cryptocurrency sector.
He notes that while crypto assets are founded on innovative technologies, they inherently carry significant risks, as they can facilitate the concealment or financing of illicit or shadow activities.
“Thus, I believe we should avoid being excessively optimistic or pessimistic; instead, we must adopt a pragmatic stance and comprehend how to manage the situation effectively, balancing innovation and development with the necessary risk management strategies,” Galstyan stated during a parliamentary session on Tuesday.
The Law On Crypto Assets became effective in Armenia on July 4, 2025. This legislation outlines the regulations for trading crypto assets, offering services, and overseeing the market. The proposed regulatory frameworks permit only verified and transparent companies to participate in the market, aiming to safeguard the rights of crypto asset purchasers and enhance market confidence.
At present, the Central Bank of Armenia is engaged in the formulation of by-laws and has already put forth for public discussion a draft regulation titled “Requirements for the content of the document offering crypto assets.”-0-
