Work on the methodology for crypto assets in Azerbaijan is nearing completion, with the document at the final stage of coordination with relevant government agencies.
Rasim Hammadov, a member of the Board of the Azerbaijan Banks Association and the Azerbaijan Fintech Association (AzFina), told Report that after feedback and proposals are received from government agencies, the document will be submitted to the Milli Majlis at the initiative of the Central Bank.
"I think this process will take another one or two months. I believe the document will be submitted to parliament for discussion by the end of this year," he said.
Hammadov noted that more than 120 amendments, comments and proposals have already been put forward under the new rules, concerning changes to existing regulations and legislation.
"We are currently coordinating the proposals. I believe we will complete work on the legislative amendments and proposals by November and submit them to the Central Bank," he said.
Hammadov noted that three key areas are being considered in preparing the proposals: differences between foreign markets and the Azerbaijani market; changes that have occurred during the two years since the law that entered into force in 2024 began to be applied; and alignment with the Central Bank's new strategy for 2027–2030.