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Azerbaijan plans to introduce cryptocurrency market regulation law within the year, requiring enterprises to operate with licenses.

2026-06-30 00:28:10

Abstract generation in progress

Mars Finance News, according to Bits.media, Fidan Tofidi, Director of the Fintech and Innovation Department of the Central Bank of Azerbaijan, stated that the draft law on the regulation of virtual assets in the country has been completed and submitted for review, with formal legislation expected within the year. The bill requires that all companies engaged in crypto asset business obtain a license from the Central Bank, and unauthorized operations within the territory are prohibited. Licensed institutions will be subject to ongoing supervision. The regulatory framework will cover compliance requirements such as anti-money laundering, counter-terrorism financing, and customer identification (KYC), and will be incorporated into Azerbaijan's 2027-2030 financial market development strategy.

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