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As part of the discussions in the National Assembly, Armenian Deputy Prime Minister Mher Grigoryan confirmed that the ban on exchanging digital currencies for cash, scheduled for 2026, will be put into effect in accordance with the planned deadlines.

As the official explained, the goal is not to suppress the development of the innovation sector, but to establish clear rules of the game for it. The main focus was on the difficulties with taxation and the risks of money laundering caused by the anonymity of the owners of crypto wallets.

The reason for Grigoryan's statement was a question from Arman Egoyan, a deputy from the Civil Contract party. The deputy informed colleagues about the concerns of entrepreneurs who believe that the upcoming restrictions will create unnecessary obstacles for business. Egoyan clarified that he does not own bitcoins himself. Grigoryan replied that it was impossible to say for sure, and that was the whole problem. He stressed that tax authorities should have accurate information about the owners of assets, including cryptocurrencies, and that owners are required to provide appropriate reporting.

Earlier, the head of the Central Bank, Martin Galstyan, spoke about the risks associated with using cryptocurrencies to finance illegal activities. He called on the country's banks to actively develop methods for assessing and managing risks that arise when working with clients engaged in the field of digital assets.

Thus, Armenia consistently strives to legalize the market of crypto assets through mechanisms for identifying their owners. The authorities plan to create a legislative framework that ensures transparency of operations with cryptocurrencies for regulatory authorities, which will increase tax revenues and combat illegal financial transactions.