Armenia Sets the Stage for a Regulated Crypto Future
The Armenian government is taking a decisive step to bring order to its crypto industry. With the support of the Central Bank of Armenia (CBA), the country is preparing to implement uniform regulations that would bring clarity and accountability to digital asset businesses operating within its borders. Armen Nurbekyan, Deputy Governor of the CBA, revealed the plan during a recent session of the National Assembly's Standing Committee on Financial-Credit and Budgetary Affairs. Nurbekyan confirmed that the proposed framework would move beyond existing requirements for crypto exchange offices and extend to all participants in the crypto ecosystem.
“The upcoming regulations will not concern the technological side of cryptocurrencies but only focus on the financial aspects,” he noted.
‘Financial Hygiene’ and Transparency Take Center Stage
One of the most significant aspects of the new legislation is the introduction of a so-called "financial hygiene" mechanism. According to officials, crypto firms will be required to disclose full ownership structures and meet specific capital thresholds.
“In essence, this means overseeing the founders of companies working with cryptocurrency, as well as sources of capital,” said Nurbekyan. The Central Bank of Armenia believes this transparency initiative will help combat money laundering and strengthen investor protection.
In addition, procedures around the issuance of digital assets will be simplified, making it easier for legitimate firms to operate while keeping malicious actors in check
Traditional Banks Eye Crypto Entry
Armenian banks have long shown interest in offering crypto-related services, but the lack of a legal framework has been a barrier. That may soon change.
“With uniform rules, Armenian banks, which have long been interested in this domain, can also officially offer cryptocurrency services,” Nurbekyan added.
The legislative package has already cleared a key parliamentary committee and now heads to the broader legislature for debate and approval.
A New Era for Armenia’s Digital Economy
Finance Minister Vahe Hovhannisyan underscored the urgency of the move, citing increased activity and systemic risk in the unregulated crypto space. “The government’s main objective will be to protect the rights and legitimate interests of digital asset holders and customers in Armenia’s crypto market,” he said.
“This is our first attempt to regulate the cryptocurrency sector,” Prime Minister Nikol Pashinyan said during a cabinet session. “This is a very important step that must be taken boldly and decisively… We are late, but better late than never.”
If passed, the legislation would mark Armenia’s entry into the growing list of countries setting clear legal frameworks for digital assets—allowing the nation to take its place in the global crypto economy.
