YEREVAN, February 17. /ARKA/. The Armenian cryptocurrency market is gaining momentum: 2-3 banks plan to obtain separate licenses to handle these operations, Daniel Azatyan, head of the Union of Banks of Armenia (UBA), stated in response to a question from ARKA news agency.
“In the coming years, we will have to undergo a period of adaptation, study the rules, and work with them to see what changes may occur in the future. Banks are well aware that technological development is inevitable. Society, the market, and businesses will undergo changes. And banks, in turn, must be prepared for these changes,” Azatyan said.
According to him, Armenian banks are ready for innovation in the world of cryptocurrencies and are assessing the risks.
The Law “On Cryptoassets” entered into force in Armenia on July 4, 2025, and work is currently underway to develop supporting legislation. The document establishes rules for cryptoasset trading, service provision, and market oversight.
The established regulatory mechanisms allow only verified and transparent companies to enter the market, which should protect the rights of cryptoasset buyers and increase trust in the market.-0-
