Armenia’s Crypto Act Gets Major Overhaul: Lawmakers Pass Key Amendments

Yerevan shakes up the rulebook. Armenian lawmakers just pushed through critical amendments to the nation's foundational cryptocurrency legislation—a move signaling a pivot toward structured digital asset governance.

The Regulatory Reboot

Forget the wild west. The revised act introduces clearer licensing frameworks for exchanges and custodians, aiming to pull local crypto operations into the daylight. It’s a bid to attract legitimate capital while fencing out the bad actors—a classic regulatory tightrope walk.

Why This Matters Now

Global finance is watching. As traditional hubs dither, smaller nations like Armenia are carving out niches by moving faster. These amendments aren't just local housekeeping; they're a strategic play for a slice of the booming digital economy. It’s regulatory arbitrage in action—offering clarity where giants offer confusion.

The Finance Jab

Let's be real—this is also about catching up. While Wall Street still debates whether Bitcoin is an asset, a currency, or a scam, emerging markets are busy building the rails. Sometimes, the future of finance gets built by those with less legacy baggage to protect.

The amendments land as global crypto volumes surge. Armenia isn't just updating laws; it's placing a bet. The message to builders and investors is clear: come build where the rules are being written, not litigated.

Lawmakers modify Armenia’s legislation to facilitate crypto business

The National Assembly of Armenia has adopted amendments to two pieces of legislation concerning the South Caucasian nation’s growing crypto market, local media reported.

During an extraordinary session on Wednesday, its members passed the changes to the law “On Crypto Assets” and the law “On Non-cash Transactions” on second and final reading.

Under the former, which entered into force in its original FORM on July 4, 2025, the provision of crypto-related services becomes subject to mandatory licensing by the Central Bank of Armenia (CBA). New texts in the latter prohibit crypto trades using fiat cash.

The legislation envisages a transitional period for entities that were already offering crypto services when the law came into effect, a high-ranking representative of the monetary authority reminded.

They will now have a full year, after the enforcement of secondary acts establishing authorization procedures, to obtain a license, explained Deputy Governor Hovhannes Khachatryan.

Quoted by the Armenian financial news outlet Armbanks, the CBA official highlighted a certain discrepancy between the two laws.

According to the bill on non-cash transactions, which comes into force on January 1, 2026, transfers linked to digital assets must not involve cash payments.

That requirement clashes with the grace period granted to the crypto service providers, Khachatryan pointed out, describing a likely scenario in which such platforms may not yet be licensed by the CBA but obliged to process only non-cash transactions. He elaborated on the issue:

“On the one hand, providers of crypto asset services must establish relationships with banks to ensure non-cash transactions. And on the other, servicing unlicensed providers is problematic for banks, since those are not yet operating within the framework established by the law.”

Armenian government supportive of crypto users and businesses

Armenian authorities are addressing the problem by allowing cash transactions for crypto trading deals during the transitional period, provided that each transaction does not exceed 300,000 drams (approx. $790 at the time of writing).

Regardless of the amount transferred, service providers will be required to conduct proper customer identification and maintain full records of their transactions, the banker emphasized.

Speaking at a press briefing on Tuesday, his superior, Chairman of the Central Bank of Armenia Martin Galstyan, unveiled that the exemption will be valid between January 2026 and January 2027.

He described the proposed solution as a compromise that will only work if individuals who buy and sell cryptocurrencies with cash are identified.

Besides regulating the trading of digital coins and the provision of related services, the law “On Crypto Assets” establishes regulatory oversight in the sector, admitting only verified and transparent platforms to the market.

This should ensure adequate protection for the rights of cryptocurrency investors and ultimately increase their confidence in the industry, Armbanks highlighted in its report.

The crypto bill was put forward in February of this year, submitted to the National Assembly in April, and passed by Armenian lawmakers at the end of May.

News that the government in Yerevan is ready to file the amendments postponing the cash ban came out last week, as reported by Cryptopolitan.

Meanwhile, regional executives of Binance, the world’s largest digital asset exchange, highlighted that the country ranks among global leaders in terms of crypto adoption.

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