The State Revenue Committee of Armenia appealed to the Central Bank with a request to improve the regulation of the cryptocurrency industry. This was reported by the local media with reference to the statement of the head of the department, Rustem Badasyan.

According to him, the number of shady transactions with digital assets is increasing in the absence of clear rules in the country.

“There is already experience of both tax evasion and money laundering using cryptocurrencies,” Badasyan said.

The official added that as such cases have not been developed so far, the relevant law would allow for the investigation of crimes related to the circulation of cryptocurrencies.

Earlier, General Director of the Armenian Banks Association Seyran Sarkisyan stated that the country’s financial structures do not work with cryptocurrencies and do not serve these assets.

He drew attention to the need to promote the “identity of customers working with electronic currency” and to prevent money laundering using cryptocurrencies.

Recall that in March 2021, the representatives of Armenia in the Eurasian Economic Union, together with other member states, were unable to reach a consensus on the need to “harmonize” the regulation of the crypto market in their region.

In January 2022, he learned about the plans of the Armenian authorities to place a data center for mining on the premises of the former Hrazdan TPP.