Armenia extends permission for cryptocurrency transactions

Armenia will extend for one year the authorisation to buy and sell cryptocurrency for cash.

According to Caliber.Az, citing Armenian media, the government has already approved the corresponding amendments to the “Law on Crypto Assets” and will submit them to the parliament.

Initially, such transactions were planned to be banned after the law came into force on July 4. However, the authorities decided to account for a transitional period, giving companies one year to obtain licenses from the Central Bank.

Until July 2026, companies will be allowed to conduct cash transactions, but with certain restrictions: the amount of a single transaction must not exceed 300,000 drams (approximately $780), and sellers are required to verify clients’ identities and record all transactions. The Central Bank retains the right to check compliance at any time.

It is worth noting that before the law came into effect, a number of exchange offices in Armenia were already accepting cash for cryptocurrency transactions.

By Tamilla Hasanova