The Armenian authorities have decided to extend the temporary regime allowing citizens to buy and sell cryptocurrency for cash. The transition period has been extended for another year and will last until July 2026, according to local media reports.
The decision will give crypto platforms and exchange points additional time to adapt to the new requirements of the “On Cryptoassets” law, which comes into force in the summer of 2025.
Postponement of the ban and operating conditions
During the transition period, cash settlements for the purchase and sale of digital assets remain, but operate in a limited format. Each individual transaction cannot exceed 300,000 drams, which is approximately $785 at the current exchange rate.
Exchange points and platforms are required to identify clients and record all transactions. At the same time, the Central Bank of Armenia reserves the right to conduct inspections at any time, maintaining full control over compliance with the requirements.
Licensing and the role of the central bank
In parallel with the postponement of the ban, the regulator has given crypto companies a year to obtain mandatory licenses. By July 2026, market participants must bring their business structure, sources of capital, and internal procedures in line with the new standards.
The law assigns the Central Bank a key role in overseeing the industry. Platforms are required to disclose information about owners, comply with capital requirements, and fulfill client protection standards.
Banks prepare to work with crypto-assets
One of the important features of the new regulation is the permission for commercial banks to provide services related to cryptocurrencies. For this, they need to create separate legal entities and obtain a specialized license.
The Central Bank previously noted that unified rules open the way for banks that have long shown interest in this segment but could not officially work with digital assets. The regulator also emphasized that the key task for banks is to learn how to manage risks associated with decentralized currencies.
Armenia bets on regulated growth
In recent years, interest in cryptocurrencies in Armenia has grown significantly. The country is gradually forming a legal framework, trying to combine market development with increased control and greater investor confidence.
Representatives of international companies note that Armenia has already taken a prominent place on the regional crypto industry map. According to industry experts, the country is among the leaders in terms of population involvement, and digital assets are increasingly being integrated into economic life.
The extension of permission for cash operations looks like a compromise step. The authorities maintain control over the market but avoid a sharp tightening that could push operations into the gray zone. As a result, Armenia continues to move towards a more mature and regulated crypto market model without stifling its development with a single decision.
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