On December 17, Armenia’s National Assembly adopted in second reading and in full the proposed amendments to the Law on Cryptoassets, presented by Deputy Central Bank Chairman Hovhannes Khachatryan.

The legislative package aims to fix substantive and technical issues that arose after the law came into force. One key change introduces transitional provisions allowing cash transactions involving cryptoassets, but only if the transaction does not exceed 300,000 drams.

Regardless of the transaction size, service providers will be required to properly identify customers and maintain detailed records, according to 1lurer.am .

The bill also authorizes the Central Bank to supervise compliance with customer identification and transaction registration obligations.

During the session, Committee Chair Tsovinar Vardanyan presented several proposals, which were accepted by the bill’s authors. Khachatryan responded to MPs' questions, and the committee issued a favorable opinion on the measure.

The full legislative package was approved at an extraordinary session of parliament held on the same day.