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DOMAINS TOKEN-G

Ronald Maguire

03 June 2022 141 Read Crypto

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Armenia Prepares to Regulate Crypto Market

The Tax Office and Central Bank of Armenia decided to accelerate the creation of a framework for regulating the crypto market. The Chairman of the Armenian State Revenue Committee, Rustam Badasyan, said in a speech in the parliament that the crypto industry should be legalized as soon as possible. The legislation will not define cryptocurrencies as an asset class.

According to Badasyan, some companies in Armenia avoid paying taxes using cryptocurrencies. This problem needs to be resolved so that the state can impose sanctions on legal and natural persons who use cryptocurrencies for this purpose. Regulators review other states' laws and discuss various options.

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