Armenia’s central bank proposes minimum security rules for crypto firms, giving industry 10 days to respond

Armenia’s central bank wants crypto businesses to meet minimum information security standards, and it’s giving the industry until October 30 to weigh in. The draft, announced October 20 in Yerevan, amends a 2013 Central Bank Council decision as the country builds out rules under its Law on Crypto-Assets.

The initiative forms part of the country’s broader efforts to establish the regulatory foundations for crypto-related businesses while addressing information security risks associated with digital financial services.

Under the proposal, the regulator plans to amend and supplement an existing decision of the Central Bank Council, No. 173-N, adopted on July 9, 2013. The consultation will allow businesses, industry representatives and other stakeholders to contribute to the proposed rules before the regulatory process advances.

Armenia crypto regulation targets information security standards

The proposed regulatory act focuses on minimum information security requirements for entities providing services related to crypto-assets.

According to a report published by ARKA, citing the Central Bank’s press service, the draft was developed as part of ongoing efforts to implement the regulatory framework needed to apply Armenia’s Law on Crypto-Assets.

The proposal would amend and supplement the Central Bank Council’s existing decision No. 173-N, which dates back to July 2013. The regulator has not, in the announcement provided, detailed every security measure that crypto-service providers would be required to implement under the proposed changes.

The consultation is therefore an opportunity for affected businesses to examine the draft, identify potential compliance challenges and provide recommendations before the rules are finalized.

As Armenia crypto regulation develops, the relationship between legal obligations and practical security measures is likely to remain an important consideration for firms seeking to operate within the country’s regulatory environment.

Central Bank invites industry feedback before October 30

The Central Bank has invited interested parties to submit comments and proposals on the draft by October 30, 2026, inclusive.

According to the regulator’s announcement, submissions may be sent to mcba@cba.am. Participants must use the Armenian-language subject line specified by the Central Bank: “Կրիպտոակտիվների կանոնակարգում,” which translates to “Regulation of Crypto-Assets.”

Submissions should include the sender’s full name, the organization they represent, where applicable, and their contact details.

The consultation provides an opportunity for crypto-service providers and other interested parties to raise concerns about the proposed requirements, recommend changes and explain how the draft could affect their operations.

The Central Bank has also outlined what it intends to do after the consultation period closes. Once the submissions have been collected and consolidated, the regulator plans to organize a meeting with individuals and representatives of organizations that provided feedback.

Armenia had previously banned cash to crypto exchanges in 2025 in an effort to combat money laundering.

The meeting is intended to facilitate discussion of the submitted comments and proposals.

The CBA also plans to publish the feedback it receives alongside its own position on the submissions. This would give interested parties an opportunity to review the issues raised during the consultation and understand the regulator’s responses.

The process could help clarify how the proposed rules are expected to work in practice, although the announcement does not establish a final adoption date for the amendments.

Armenia crypto regulation moves towards implementing crypto-asset law

The proposed information security rules form part of Armenia’s ongoing work to implement its Law on Crypto-Assets.

Rather than announcing a completely separate regulatory framework, the Central Bank is seeking to introduce amendments to an existing council decision. The approach indicates that the regulator is using its established regulatory instruments to develop requirements supporting the country’s crypto-asset legislation.

However, the available announcement does not provide enough detail to determine how the proposal compares with information security requirements in other jurisdictions or whether it will impose substantial new costs on crypto-service providers.

It also does not identify specific companies that would be affected or disclose how many businesses currently operate within the relevant category in Armenia.

The outcome will depend partly on the final wording of the amendments and how the Central Bank incorporates stakeholder feedback into the regulatory process.

The consultation also offers the regulator an opportunity to identify practical concerns before the proposed requirements are finalized. Feedback from businesses and other interested parties may help highlight implementation difficulties, although the extent to which the Central Bank will revise the draft remains uncertain.

The development adds another step to Armenia crypto regulation, with information security now the focus of a formal public consultation tied to implementation of the national crypto-asset law.

Source; Armbanks