The regulation of crypto assets in Armenia remains conservative, which, according to Arman Aleksanyan, co-founder and CEO of Eleveight AI, is hindering the development of the industry. According to him, there is no common understanding of goals in the market: some are focused on increasing the number of projects, others on concentrating on large initiatives, and a regulatory model for these goals has not been built.
Currently, Armenia applies adapted practices from foreign countries aimed at reducing risks, but not always stimulating the emergence of new projects.
The situation is similar to the chicken and the egg: the lack of projects slows down the development of regulation, and insufficiently adapted rules hinder the emergence of startups, as Aleksanyan noted.
The Law "On Crypto Assets", which came into force on July 4, 2025, establishes a framework for trading, providing services and supervision, limiting the market to verified and transparent companies. According to experts, further growth and innovation are possible only with the concerted work of the regulator and market participants and a clear definition of the goals of the industry's development.
