“Methodology for crypto-assets has been developed in Azerbaijan”.
elchi reports that this was stated by Rasim Hammadov, a member of the Azerbaijan Banks Association (ABA), at the “Azerbaijan’s Digital Finance Agenda” event held in Baku.
Methodology for crypto-assets has been developed in Azerbaijan
According to him, it is not correct to view crypto-assets solely as an investment tool, and this field should be evaluated as an integral part of a broader ecosystem.
“Methodological preparations regarding crypto-assets have been completed, proposals have been submitted, and the process of coordinating the documents is ongoing,” he stated.
R. Hammadov noted that the process covers three main directions: the formation of a legislative framework, the protection of consumer rights, AML and cybersecurity, as well as the creation of a reliable and transparent market environment for investors.
He added that the application possibilities of crypto-assets may expand in the future, and studying international experience in this direction is of great importance.