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Armenia has confirmed its plan to prohibit cash purchases of cryptocurrency starting in 2026, marking a significant shift in how digital assets will be regulated within the country. The Armenia crypto ban aims to eliminate anonymous cash-to-crypto deals and push the market toward transparent, trackable transactions.
The announcement was reaffirmed by Deputy Prime Minister Mher Grigoryan, who explained that the measure is not intended to suppress crypto adoption but to align with international standards for financial transparency.
Armenia Crypto Ban: Why Cash Transactions Are Being Targeted
The Armenia crypto ban specifically addresses the use of physical cash in purchasing Bitcoin, Ethereum, and other digital assets. Authorities argue that cash transactions make it difficult to trace ownership, creating risks related to money laundering, tax evasion, and illicit finance.
Under the Law on Cryptoassets, introduced in July 2025, Armenia laid out new compliance frameworks, licensing requirements, and oversight mechanisms for crypto businesses. Banning cash transactions is a natural extension of this strategy, ensuring that all crypto exchanges happen through regulated and verifiable channels.
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This means:
- Non-cash purchases via bank transfers, cards, or licensed exchanges will still be permitted.
- Service providers must comply with AML/KYC requirements.
- The government expects this move to strengthen Armenia’s cryptocurrency regulation while boosting investor trust.
Implications for Armenia’s Crypto Market
For Armenia’s growing crypto ecosystem, the cash ban could have both challenges and opportunities.
- For investors: Greater security and legitimacy in the market, but reduced flexibility for those relying on cash.
- For regulators: A step toward aligning with European Union and global standards.
- For adoption: Could accelerate integration of crypto into mainstream finance, especially with licensed exchanges and blockchain startups.
The Armenia crypto ban also highlights the government’s interest in balancing innovation with control. By discouraging untraceable cash deals, Armenia positions itself as a more crypto-friendly yet compliant market, appealing to international investors.
Also Read: Kazakhstan Shuts Down RAKS Crypto Exchange, Freezes $224M in Criminal Funds Amid Major AML Crackdown
FAQs
When will the Armenia crypto ban on cash transactions take effect?
The ban is set to start in 2026 as part of the broader Law on Cryptoassets framework.
Can Armenians still buy crypto after the cash ban?
Yes, but only through traceable digital methods such as bank transfers, licensed exchanges, and other regulated platforms.
Why is Armenia banning cash purchases of cryptocurrency?
Authorities want to reduce anonymous transactions that enable money laundering and strengthen transparency in the crypto market.
Does this mean crypto itself is banned in Armenia?
No, the ban applies only to cash transactions. Crypto trading and holding remain legal under regulated frameworks.
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