Armenia will ban cash purchases of cryptocurrency starting July 4, 2025, under the new Law on Crypto Assets, led by the Central Bank for regulatory enforcement.
The prohibition aims to enhance compliance by eliminating anonymous transactions, impacting fiat gateways without exempting any cryptocurrency, echoing global anti-money laundering efforts.
The Armenian government confirmed plans to prohibit cash purchases of cryptocurrency, effective July 2025. This step introduces a comprehensive regulatory framework for the digital asset sector.
The Central Bank of Armenia is in charge of enforcing this new regulation. This initiative is anticipated to shift the way digital assets like BTC and ETH are transacted in the country.
The new law eliminates anonymous cash transactions in cryptocurrency, effectively transforming the regulatory environment. Various sectors and investors are expected to adapt to trackable transaction methods.
Implications of this law extend into the financial and business sectors with increased compliance and anticipated structural adjustments. The transformation underscores a shift towards transparent financial operations.
The CBA is leading enforcement and regulatory coordination, establishing a comprehensive regulatory framework for crypto assets. — Central Bank of Armenia
This decision likely impacts Armenia's adoption of traceable channels over counter‑cash trades, aligning with past global precedents. Regulatory comparisons cite similar actions by the EU and neighboring states.
With reduced cash involvement, the shift to electronic means demands analytical adaptation in Armenia's crypto markets. Such a regulatory trend bolsters AML and KYC models universally in crypto dynamics.