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Akbar Novruz

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Azerbaijan may adopt a new law regulating virtual assets and cryptocurrency markets by the end of this year, marking a major step toward establishing a legal framework for the country's digital finance sector, AzerNEWS reports.

Speaking at the event titled "Azerbaijan's Digital Finance Agenda," Fidan Tofidi, Director of the Financial Technologies and Innovations Department at the Central Bank of Azerbaijan (CBA), said the regulator has finalised the draft law on virtual assets and crypto markets and submitted it to the relevant state authorities for consideration.

According to Tofidi, the proposed legislation represents a significant milestone, as the sector has so far remained unregulated in Azerbaijan.

"This is a fairly important achievement for us because this area has not yet been regulated and remains a relatively new direction both globally and in Azerbaijan," she said.

Tofidi expressed confidence that, if the legislative process proceeds as planned, the law on cryptocurrencies and virtual assets could be approved by the end of 2026.

She added that the Central Bank's team continues to work actively on the initiative, underscoring the country's efforts to establish a comprehensive regulatory framework for digital assets and emerging financial technologies.