TechFlow news, on June 30, according to Bits.media, Fidan Tofidi, Director of the Fintech and Innovation Department of the Central Bank of Azerbaijan, stated that the country's Virtual Asset Market Regulation Bill has completed drafting and been submitted for review, and is expected to be formally legislated within the year. The bill requires all companies engaged in crypto asset business to obtain a license issued by the central bank, and they are not allowed to operate within the country without authorization; licensed institutions will be subject to continuous supervision. The regulatory framework will cover compliance requirements such as anti-money laundering, counter-terrorist financing, and Know Your Customer (KYC), and will be incorporated into Azerbaijan's 2027—2030 Financial Market Development Strategy
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