Azerbaijan may adopt crypto law by year-end

Azerbaijan expects to adopt legislation regulating crypto assets by the end of the year, Fidan Tofidi, director of the Central Bank’s Financial Technologies and Innovation Department, said.

The final draft law on virtual assets and cryptocurrency markets has already been prepared and submitted to state institutions for review, she said.

“If everything goes well, the law on crypto assets will be adopted by the end of the year,” Tofidi said.

She said cryptocurrency regulation remains a relatively new area both for Azerbaijan and many other countries.

N.Tebrizli