Work on the methodology for crypto assets in Azerbaijan is nearing completion: the document is in the final stage of coordination with relevant government agencies. This was stated by Rashim Khammamov, a member of the Azerbaijan Banks Association and a member of the board of the Azerbaijan Fintech Association (AzFina).
According to him, after receiving feedback and proposals from government agencies, the document will be sent to the Milli Majlis upon the recommendation of the Central Bank.
"I think this process will take another one to two months. I believe that before the end of this year the document will be submitted to parliament for discussion," he noted.
Khammamov emphasized that more than 120 amendments, comments and proposals related to changes in current rules and legislation have already been put forward under the new rules.
"Currently, the proposals are in the process of coordination. I believe we will complete work on the changes and proposals to the legislation by November and present them to the Central Bank," he said.
Khammamov noted that three main areas are being taken into account in preparing the proposals: the differences between external markets and Azerbaijan's market, the changes that have occurred over the two years of application of the law that came into force in 2024, and compliance with the Central Bank's new strategy for 2027-2030.
