YEREVAN, November 1. /ARKA/. Later this year or early next year the Central Bank of Armenia is likely to send a legislative initiative on cryptocurrencies to the National Assembly for discussions.

The  head of the regulator Martin Galstyan noted on Tuesday in response to a question of ARKA news agency that the initiative is still being discussed with relevant structures. He refrained from providing more details.

Speaking at a parliamentary discussion on Armenia's draft state budget for 2024, Galstyan said that the initiative was drafted  based on the best world experiences. He noted, however, that ‘one  should not expect us to be extremely liberal."

"We believe that this field should be regulated by the principle of 'one risk, one regulation'," he said. 

Galstyan added this year more than 10 specialists have been sent to Cambridge University to research the topic of cryptocurrencies.

"The country must have the knowledge to be able to launch this industry. If it is left without informed approaches, the risks that can arise are huge. Therefore, we want to build knowledge first and then propose approaches," Galstyan explained. -0-