{"id":139805,"date":"2022-05-13T14:14:18","date_gmt":"2022-05-13T14:14:18","guid":{"rendered":"https:\/\/armbanks.am\/2022\/05\/13\/250332\/"},"modified":"2024-12-15T13:47:29","modified_gmt":"2024-12-15T13:47:29","slug":"armenian-financial-organizations-do-not-carry-out-transactions-with-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2022\/05\/13\/139805\/","title":{"rendered":"Armenian financial organizations do not carry out transactions with cryptocurrencies"},"content":{"rendered":"\n<p><strong>YEREVAN, May 13. \/ARKA\/.<\/strong> Armenia&#8217;s financial organizations\u00a0\u00a0do not use cryptocurrencies and do not service crypto assets, Seyran Sargsyan, the executive director of the Union of Banks of Armenia (UBA), said at a press conference on Friday.<\/p>\n\n\n\n<p>&#8220;Financial structures do not accept cryptocurrencies&nbsp;as financial assets and&nbsp;&nbsp;do not carry out transactions with them,&#8221; he said.<\/p>\n\n\n\n<p>&#8220;We need to understand what the main problems&nbsp;in this area are&nbsp;&#8221; he said. In this regard, Sargsyan&nbsp;&nbsp;pointed to&nbsp;suich&nbsp;issues&nbsp;as&nbsp;&nbsp;identification of clients dealing with electronic currencies, transparency, the regulatory field related to money laundering.<\/p>\n\n\n\n<p>&#8220;Unless&nbsp;&nbsp;these issues are clearly regulated, many more countries, in my subjective opinion, will refuse to carry out transactions with these assets,&#8221; Sargsyan&nbsp;said.<\/p>\n\n\n\n<p>The global cryptocurrency market has seen high volatility recently. According to Forbes, the&nbsp;cryptocurrency&nbsp;market lost more than $200 billion in one day.&nbsp;Bitcoin exchange rate fell below $26,000 for the first time in 16 months.<\/p>\n\n\n\n<p>Ethereum, the second-largest cryptocurrency, fell below $2,000 to $1,704 for the first time since June 2021. Bitcoin has now risen to $30,000 and Ethereum to $2,000.<\/p>\n\n\n\n<p>Investors are fleeing cryptocurrencies amid record high inflation. Price growth in the U.S. accelerated to 8.3 percent in April, close to a 40-year record. The cryptocurrency market is also under pressure from the collapse of Terra Stablecoin. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia&#8217;s financial organizations\u00a0\u00a0do not use cryptocurrencies and do not service crypto assets, Seyran Sargsyan, the executive director of the Union of Banks of Armenia (UBA), said at a press conference on Friday<\/p>\n","protected":false},"author":1,"featured_media":194677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[13056,12947],"class_list":{"0":"post-139805","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-overall-reserves","10":"tag-securities-transactions"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/139805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=139805"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/139805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/194677"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=139805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=139805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=139805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}