Is crypto legal in Armenia? Rules & regulation (2026)

Legal framework

Law of the Republic of Armenia 'On Crypto-Assets' (adopted 29 May 2025, in force 4 July 2025), with implementing by-laws of the Central Bank of Armenia (CBA) in force from 31 January 2026; supervised and licensed by the Central Bank of Armenia. Crypto-assets are also defined for tax purposes in the Tax Code and treated as a distinct asset class under the Civil Code.

Status by sub-area

• Stablecoins

  In force

  Issuance of asset-referenced (stablecoin-type) tokens is one of the regulated activities under the Law 'On Crypto-Assets', following the MiCA model, and issuers are subject to tighter CBA oversight than lighter-touch services such as advice.

• Exchanges / VASP

  In force

  Operating a crypto trading platform and acting as a virtual-asset service provider require a CBA license under by-laws in force since 31 January 2026, with capital, governance, AML/KYC and reporting requirements.

• Token Offerings

  In force

  The Law regulates public offerings and public sale/purchase of crypto-assets along MiCA lines, including disclosure (white-paper-type) requirements; the Civil Code was amended so crypto-assets are a distinct asset class outside traditional financial instruments.

• Custody

  In force

  Custody and administration of crypto-assets on behalf of clients is a licensed activity under the Law and the CBA by-laws in force since 31 January 2026.

• DeFi

  Unclear

  The law regulates the financial (not technological) side of crypto and is built around licensed, identifiable service providers; like MiCA, it does not set out a dedicated regime for fully decentralized finance or DAOs, leaving the treatment of genuinely decentralized protocols ambiguous.

  Still pending: Dedicated regulatory regime for DAOs and decentralized finance protocols not yet established

• Tax

  In force

  Amendments to the Tax Code adopted alongside the crypto law define 'crypto-asset' for tax purposes. Individual crypto capital gains are generally untaxed, corporate profits face the 18% rate, and a 10% withholding applies when a company pays fiat to acquire crypto-assets; crypto transactions are generally outside VAT.

Key points: crypto & digital assets in Armenia

1. 01MiCA-modeled primary law

   The Law 'On Crypto-Assets' was adopted by the National Assembly on 29 May 2025 and entered into force on 4 July 2025; its logic and effect mirror EU Regulation 2023/1114 (MiCA), regulating public offerings, public sale/purchase and crypto-asset services.

   loc.gov

2. 02Central Bank as sole regulator

   The Central Bank of Armenia licenses and supervises all crypto-asset service providers; any person must obtain a CBA license before providing crypto-asset services.

   cba.am loc.gov

3. 03By-laws in force 31 Jan 2026

   The first package of CBA regulatory acts governing crypto-asset service providers (published 21 Jan 2026) took effect on 31 January 2026, setting registration, internal-policy, governance and manager-fit-and-proper requirements.

   afm.am cba.am

4. 04Ten licensed service categories

   Regulated services include operating a trading platform, custody/administration, dealing on own account, dealing on behalf of clients, order transmission, placement, portfolio management, advice, transfer of crypto-assets, and issuance of asset-referenced (stablecoin-type) tokens.

   civilnet.am loc.gov

5. 05Tiered capital requirements

   Minimum charter-capital requirements vary by service type, reported from roughly USD 30,000 up to about USD 530,000, alongside ongoing AML/KYC, recordkeeping and CBA reporting obligations.

   civilnet.am afm.am

6. 06Transition period for incumbents

   Providers already operating before the law took effect (4 July 2025) must obtain a CBA license within one year of the by-laws entering force, i.e. by 31 January 2027, or cease operations.

   afm.am

Timeline of decisions

1. 31 Jan 2026Decision · official
   CBA Implementing Regulations Enter Into Force; Mandatory Licensing Window Opens

   The first package of Central Bank of Armenia regulations for crypto-asset service providers (Regulations 7/01 on licensing, 7/02 on minimum capital of ~$30,000, $530,000, and 7/05 on management registration) took legal effect. All existing providers must obtain a CBA licence by 31 January 2027 or cease operations; individual cash transactions remain permitted up to AMD 300,000 (~$785) until that same deadline.

   Central Bank of Armenia

2. 1 Dec 2025Decision · official
   CBA Board Adopts Licensing, Capital, and Management Regulations for Crypto-Asset Sector

   The CBA Board approved the secondary rules that operationalise the July 2025 law: Regulation 7/01 (registration and licensing procedures), Regulation 7/02 (tiered minimum-capital floors), and Regulation 7/05 (fit-and-proper registration of senior managers of crypto-asset service providers and branches of foreign providers).

   Central Bank of Armenia

3. 4 Jul 2025Law · official
   Law on Crypto Assets (HO-159-N) Enters Into Force, First MiCA-Aligned Framework in South Caucasus

   Armenia's comprehensive standalone crypto-assets law took effect, designating the CBA as sole regulator, requiring licences for all service providers (trading platforms, custodians, portfolio managers, advisers, token issuers), and incorporating explicit market-abuse prohibitions. Armenia became the first country in the South Caucasus to adopt an EU MiCA-modelled framework.

   Library of Congress Global Legal Monitor

4. 29 May 2025Law
   National Assembly Adopts Law on Crypto Assets with Civil Code and Tax Code Amendments

   Parliament passed the Law on Crypto Assets alongside Civil Code amendments (classifying crypto as a distinct non-financial asset class, not money or a security) and Tax Code amendments (embedding a statutory definition of crypto asset). Industry groups objected to licensing costs and compliance burdens, prompting a cash-transaction transitional period.

   CivilNet

5. 29 Oct 2024Guidance
   Central Bank Publicly Announces Development of MiCA-Modelled Crypto Law

   The CBA announced it was drafting legislation on crypto assets closely following the EU's Markets in Crypto-Assets Regulation (MiCA) and applying the 'same activity, same risk, same regulation' principle. The draft was expected to be filed with the National Assembly in early 2025.

   Public Radio of Armenia

6. 1 Jul 2024Guidance · official
   IMF Technical Assistance Report Urges Armenia to Formalise Crypto Tax Rules and Join CARF

   The IMF published a Technical Assistance Report recommending Armenia clarify taxation of crypto-asset transactions and commit to the OECD Crypto-Asset Reporting Framework (CARF) ahead of the country's 2027 information-exchange obligations. The report added international pressure to enact formal regulation promptly.

   International Monetary Fund

7. 1 Jan 2024Decision
   State Revenue Committee Procures Chainalysis Reactor for Blockchain Transaction Monitoring

   Armenia's tax authority allocated AMD 85 million (~$220,000) to acquire Chainalysis Reactor software, enabling real-time tracing of on-chain transactions and crypto-to-fiat conversions. This marked a shift from passive tolerance to active enforcement capability in the crypto sector ahead of formal regulation.

   ARKA News Agency

8. 24 Oct 2022Guidance · official
   Council of Europe Hosts FATF-Aligned Virtual Assets AML/CFT Workshop in Yerevan

   CBA officials and the Financial Monitoring Centre (Armenia's FIU) participated in a Council of Europe workshop reviewing FATF Recommendation 15, the EU's 5th AML Directive, and a draft package of AML law amendments covering virtual asset service providers (VASPs). It was Armenia's first structured international alignment exercise for virtual asset AML/CFT regulation.

   Council of Europe

9. 18 Oct 2018Incident
   Prime Minister Inaugurates Armenia's First Large-Scale Crypto Mining Farm

   Prime Minister Pashinyan attended the launch of a $50 million mining facility in Yerevan, envisaged to scale to 120,000 machines, operating under the government's Free Economic Zone framework. The high-profile inauguration signalled strong state support for positioning Armenia as a regional crypto-mining hub.

   CoinTelegraph

10. 30 Aug 2018Decision · official
    Government Decree Establishes Free Economic Zone Framework Enabling Industrial Mining

    A governmental decree on the creation of a Free Economic Zone provided the legal and fiscal underpinning for large-scale crypto mining operations, allowing them to function without dedicated sectoral licensing. This became the operative legal basis for the first major mining farm two months later.

    Library of Congress, Law Library

Sources

1. 1.loc.gov/item/global-legal-monitor/2025-09-19/armenia-new-law-establishes-comp
2. 2.cba.am/en/News/regarding-the-publication-of-certain-regulations-governing-th
3. 3.cba.am/en/Publication/9430/preview/
4. 4.afm.am/en/news/financial-news/armenia-introduces-crypto-asset-regulation-sta
5. 5.civilnet.am/en/news/1003468/armenia-tightens-crypto-rules-puts-sector-under-centr
6. 6.civilnet.am/en/news/954506/armenia-adopts-crypto-oversight-law-amid-industry-back