Official Translation

LAW

OF THE REPUBLIC OF ARMENIA

Adopted on 17 December 2025

Article 1. In part 7 of Article 5 of Law HO-159-N of 29 May 2025 “On crypto-assets” (hereinafter referred to as “the Law”), the words “, being placed in the territory of the Republic of Armenia,” shall be added after the words “of a foreign issuer”.

Article 2. In point 2 of part 2 of Article 11 of the Law, the words “reveal, as well as” shall be deleted.

Article 3. Point 8 of part 10 of Article 20 of the Law shall be amended to read as follows:

“(8) the standard of the minimum amount of the total capital defined by the regulatory legal acts of the Central Bank is not met;”.

Article 4. Part 7 of Article 35 of the Law shall be amended to read as follows:

“7. The internal audit shall be obliged to notify the executive body of the crypto-asset service provider of any violation of the requirements prescribed by law, other legal acts, as well as of any damage caused to the interests of clients by the crypto-asset service provider, within five working days after the disclosure thereof, and where the specified violation or damage caused is substantial — also the board of directors of the cryto-asset service provider and the Central Bank.”.

Article 5. In part 14 of Article 51 of the Law, the words “may be prescribed by the regulatory legal acts of the Board of the Central Bank of the Central Bank” shall be replaced with the words “by the regulatory legal acts of the Board of the Central Bank”.

Article 6. Point 3 of part 9 of Article 57 of the Law shall be repealed.

Article 7. Part 7 of Article 61 of the Law shall be supplemented with a new sentence after the words “starting from the moment of publication of the white paper of the tokens”, which shall read as follows: “The Central Bank may oblige the issuer to invite a person conducting audit with a view to conducting an independent audit of reserve assets.”.

Article 8. Part 2 of Article 94 of the Law shall be amended to read as follows:

“2․ Legal persons who provide the crypto-asset services provided for by Article 16 of this Law in the territory of the Republic of Armenia as of the day of entry into force of this Law must be registered and licensed as a crypto-asset service provider by the Central Bank within one year after the entry into force of the regulatory legal act provided for by part 1 of Article 17 of this Law, or terminate the provision of crypto-asset services or the offering thereof. This regulation shall also extend to the legal persons who were reorganised only by change of organisational and legal form after the entry into force of this Law. Individual entrepreneurs who provide the crypto-asset services provided for by Article 16 of this Law in the territory of the Republic of Armenia as of the day of entry into force of this Law, may continue the provision of crypto-asset services for one year after the entry into force of the regulatory legal act provided for by part 1 of Article 17 of this Law, after which they must terminate the provision of crypto-asset services or the offering thereof. The Central Bank shall — within three working days after making the registration of the legal person pursuant to this part — notify the State Register of Legal Entities of the Ministry of Justice, indicating the identification data relating to the legal person recorded in the register of the State Register of Legal Entities of the Ministry of Justice, as well as the identification data issued to the legal person following the registration by the Central Bank, after the receipt whereof the State Register of Legal Entities of the Ministry of Justice shall make a note in the register to the effect that the given legal person is registered by the Central Bank, as well as replace the state registration number of the legal person in the register with the registration number issued by the Central Bank. The Central Bank may prescribe exceptions for the documents and information required by Chapters 4 and 5 of this Law or requirements for submitting them otherwise for the organisations prescribed by this part and persons with qualifying holding in the authorised capital thereof.”.

Article 9․ Article 94 of the Law shall be supplemented with parts 2.1-2.4 which shall read as follows:

“2.1. The provision of part 3 of Article 6.1 of the Law “On cashless operations” shall apply to the persons prescribed by part 2 of this Article, who have applied to the Central Bank, in writing, before 31 January 2026 (and were not removed from the list of persons having applied thereto after applying) by submitting substantiations for certifying the provision of the crypto-asset services provided for by Article 16 of this Law in the territory of the Republic of Armenia as of the day of entry into force of this Law, as well as indicating the type of service, information on state registration of the legal person (information on record-registration of the individual entrepreneur), the place of location (address of the place of record-registration). Requirements for the composition and contents of the information subject to submission pursuant to this part may be prescribed by a regulatory legal act of the Board of the Central Bank. The Central Bank shall maintain a list of persons having applied thereto pursuant to this part (hereinafter referred to as “the List”).

2.2. The Central Bank may define requirements for the procedure for making, maintaining (archiving) registrations or records on a transaction concluded by a person included in the List with its client or at the expense thereof, the contents, conditions, and time limits therefor, as well as a procedure for submitting them to the Central Bank.

2.3. The Central Bank shall, before the registration and licensing of persons providing services as prescribed by the Law, carry out supervision (including inspection) over observance of the requirements prescribed by part 3 of Article 6.1 of the Law “On cashless operations”. In case of revealing — during the supervision — a violation of the requirements prescribed by this part, as well as incomplete, misleading, false or unreliable information in the information submitted for including in the List of crypto-asset service providers, the Central Bank shall remove the person from the List and inform the authorised body in the tax sector thereon.

2.4. Persons who have failed to apply to the Central Bank as prescribed by part 2.1 of this Article may carry out a transaction in crypto-asset on behalf of or at the expense of themselves or their client only in cashless form.”.

Article 10. In the second sentence of part 3 of Article 94 of the Law, the words “provided for by this part” shall be replaced with the words “pursuant to Article 20 of this Law”.

Article 11. This Law shall enter into force from the day following its official promulgation.

Date of official promulgation: 29 December 2025.

Translation published on a joint site 12 June 2026.