YEREVAN, December 9. /ARKA/. Armenia’s Central Bank has called on citizens today to refrain from the use of virtual currencies before the enforcement of a relevant regulation.

"According to Armenian legislation, virtual currencies, including Bitcoins are not considered electronic money. This in view, the regulator calls on citizens to refrain from using them, given the absence of clear-cut approaches on this issue in international practice," the Central Bank said in a statement.

"The Central Bank encourages the use of those innovative payment instruments, which enable risk-free transactions by protecting the interests of customers as much as possible and do not create a favorable environment for money laundering and terrorism financing," the regulator said.

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Tags: Armenia, Central Bank, The European Union

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