YEREVAN, February 3. /ARКА/. The chairman of the Central Bank of Armenia, Martin Galstyan, asserts that the process of identifying clients of cryptocurrency companies in the country should be as stringent as possible.
“This will facilitate opportunities for market participants who are open and transparent to continue their operations with banks and other partners. Nevertheless, I do not dismiss the possibility that individuals may find it challenging to acquire cryptocurrency assets without revealing their income sources. It is essential to have clear information regarding who executed the transaction, the funds used, and the intended purpose,” Galstyan stated during a press conference on Tuesday.
The chairman of the Central Bank did not disclose the number of cryptocurrency companies seeking specialized licenses. “Applications from companies began to arrive at the end of January, and a certain volume of work has accumulated. There are some minor technical issues concerning email,” he mentioned.
The Law on Cryptoassets came into effect in Armenia on July 4, 2025, and efforts are currently being made to develop supporting legislation. This document sets forth regulations for the trading of cryptoassets, the provision of services, and market supervision.
The regulatory frameworks established permit only verified and transparent companies to enter the market, which is intended to safeguard the rights of cryptoasset purchasers and enhance trust in the market.-0-
