Draft regulations for crypto assets discussed in CBA

The Central Bank of Azerbaijan (CBA) held discussions on the development of regulatory legal acts in the field of crypto assets.

According to Report, citing the CBA, the discussions took place during a meeting between CBA Deputy Chairman Vusal Khalilov and representatives of the Azerbaijan Fintech Association.

The sides discussed the results of the second quarter in financial technology and payments, as well as key trends and development priorities. The focus was on introducing a comprehensive regulatory framework for crypto assets and crypto-asset service providers, as well as drafting the relevant regulatory documents.

The meeting also covered the sector's strategic objectives and measures to improve control mechanisms aimed at preventing fraud and illicit transactions.