News

In order to bring the legislation in line with the development of digital technologies, the Armenian Parliament has made adjustments to financial laws. The amendments affected two key laws: "On crypto Assets" and "On non-cash payments." The main objective of these changes is to resolve the legal inconsistencies that have arisen and facilitate the transition period for companies engaged in the field of digital assets.

The initial version of the law on Cryptoassets, which entered into force in the summer of 2025, required all cryptocurrency services to obtain a license from the Central Bank of Armenia. At the same time, the law "On Non-cash Payments" planned to introduce a complete ban on cash payments in transactions with digital currencies from the beginning of 2026. In fact, the simultaneous operation of these rules created problems for businesses. Companies that had not yet obtained a license faced legal uncertainty, being unable to legally operate even during the transition period.

To resolve the situation, the authorities have adjusted something. Firstly, now there is more time to obtain a license – they have given a whole year from the moment of approval of all the necessary rules so that the companies have time to settle the formalities.

Secondly, and most importantly, the strict ban on cash payments has been slightly relaxed. From the beginning of 2026 to the beginning of 2027, it will be possible to pay in cash, but with the condition: no more than 300 thousand drams per operation.

It is important to understand that all other financial security requirements are still in force, without any concessions. This means that it is imperative to identify customers and keep records of all transactions, regardless of how they are calculated. As the head of the Central Bank of Armenia, Martin Galstyan, said, such a concession is a forced and temporary measure. And its success depends on whether the regulatory authorities are able to monitor compliance with the limits and rules.

Instead of a strict ban, which might not have worked, they decided to act gradually, giving the business clear deadlines and rules. As a result, this can help create a more open and secure crypto environment in the country, attract serious players and increase trust from everyone – from users to investors.