Armenian authorities have decided to extend the permission to buy and sell cryptocurrency for cash for another year. The government has approved the corresponding amendments and will submit them to parliament for consideration. Initially, such operations were planned to be completely banned immediately after the entry into force of the relevant law on July 4, but regulators accommodated the market.
The decision is related to the need for a transition period. Companies working with cryptocurrencies will have additional time to obtain licenses from the Central Bank. Until July 2026, cash transactions will continue, but will be carried out according to new, stricter rules aimed at increasing transparency and control.
In particular, the amount of one cash transaction should not exceed 300 thousand drams, which corresponds to approximately $780. In addition, sellers will be required to identify customers and record all transactions. Thus, the cryptocurrency market in Armenia will continue to operate in a limited format, gradually moving under full regulation.
