ArmInfo.The Armenian authorities will tighten control over crypto assets for better traceability of financial flows. At a meeting on October 18, the National Assembly Committee of the Republic of Armenia issued a positive conclusion on the amendments to the Criminal Code, the Law on Non-cash Transactions and a package of related documents submitted by the country's government.
According to Arpine Sargsyan, Deputy Minister of Internal Affairs of the Republic of Armenia, the circulation of money in the crypto asset ecosystem carries risks associated with money laundering and a high level of the "shadow" economy. Sargsyan noted that the Central Bank is currently developing a corresponding draft law, and in order to harmonize the legislation submitted by the Central Bank and the Ministry of Internal Affairs, it is envisaged that the package will come into force on January 1, 2026.
It is planned that trading in crypto assets should be carried out exclusively in non-cash form. In other words, citizens will not be able to receive financial resources in cash for crediting cryptocurrency to their wallet.
In addition, for the first time, liability for cybercrimes, including hacking, is being introduced into the country's legislation. Actions aimed at illegally penetrating a computer or computer network, changing computer data, computer sabotage, including disabling a computer using malicious software, as well as phishing will become criminally punishable.
Note that even child pornography will be considered a cybercrime.
