Overview
- The Central Bank of Azerbaijan has completed a draft virtual‑assets law and submitted it for review, and the regulator says it could be adopted before the end of the year.
- Under the draft, every company dealing in virtual assets would need a licence from the central bank before operating in Azerbaijan’s domestic market.
- Licensed firms would be placed under continuous central‑bank supervision and required to comply with anti‑money‑laundering, counter‑terrorism financing, and mandatory customer identification rules.
- If enacted, the law would bar unlicensed providers from offering services inside Azerbaijan and could change how foreign exchanges gain domestic access; Binance has held talks with the central bank about regulatory cooperation.
- The proposal is presented as part of a 2027–2030 financial‑market development strategy and comes alongside the central bank’s continued caution on issuing a central bank digital currency as it studies global examples.