Armenia government does not plan to lift ban on exchanging cash for cryptocurrency, deputy PM says

The Armenian government does not intend to lift the ban on exchanging cash for cryptocurrency, which will come into force in 2026. Deputy Prime Minister Mher Grigoryan stated this during the question-and-answer session with the government, in the National Assembly of Armenia Wednesday, while answering the questions of the MPs.

Majority faction lawmaker Arman Yeghoyan had said that several companies engaged in the cryptocurrency sector in Armenia had contacted him. In particular, he raised the matter of restrictions that, in his view, may hinder their trade.

According to Grigoryan, however, no one wants to limit the circulation of digital money in Armenia.

“The only question is to identify their owners. Otherwise, there will be risks of tax evasion, since it will simply be impossible to track the movement of anonymous crypto assets [in Armenia],” added the member of the Armenian government.

And to this end, a consensus has formed within the Armenian government that the owners of digital financial assets should be known to Armenia’s tax authorities.