Are cryptocurrencies legal in Armenia in 2024?

The article was created based on materials skylabs.

There is no law in Armenia that regulates digital assets, that is, it allows or prohibits buying and selling cryptocurrencies. There are advantages to this, for example, opportunities for investment, for creating new companies and jobs in the field of blockchain, mining, electronic wallets. Along with this, the shadow market is also expanding, through which they are associated with prohibited substances and rates. It is assumed that the state will regulate cryptocurrencies in the future in order to get rid of the shadow market.

Yes. Mining is not regulated by law in any way. But the price of electricity is high enough that it is almost impossible to bring the mining farm to break even.

Potentially profitable mining on alternative energy sources, but you need to look in detail at the situation on the market and a particular currency.

In extremely rare cafes and hotels, you can pay with a crypt if the owner agrees to a transfer to his account. The way out of the situation can be the exchange and withdrawal of the crypt.

It is safe to buy, sell or exchange cryptocurrencies in drams at cryptomats at the following addresses:

Azatutyan Ave., 24/15 (Business Park "B Plaza")
19 Sayat-Nova Ave. (Ani Plaza Hotel)
34/3 Arshakunyats Ave. (Yerevan Mall)
st. Vazgen Sargsyan, 10, (Business Center "Piazza Grande")
st. Abelyan, d. 6/12, (Business Center IT Park)
Zvartnots Airport

Banks have a negative attitude towards cryptocurrencies.

Clients are prevented from creating financial links between banks and digital currencies. This is the position of the Central Bank of Armenia and FATF (Financial Action Task Force on Money Laundering). In addition, as mentioned earlier, there is no law regulating actions with cryptocurrency.

Over the past year, several new companies have opened and cryptocurrency turnover has increased - they could amount to tens or even hundreds of millions of dollars per month. But the main development in this area will begin after the adoption of the law and the regulation of the work of exchange offices.