CBA chairman: Interest in cryptocurrencies growing in Azerbaijan

"We are observing an increase in interest in digital assets, including cryptocurrencies, in Azerbaijan," said Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA), during his speech at the "Al-Ula for Emerging Economies" conference in Riyadh, Azernews reports.

Kazimov noted that this trend is driving efforts to develop a legal framework for regulating digital assets in Azerbaijan.

Highlighting recent financial sector reforms, he stated, "Over the past three years, we have made significant progress, especially in regulatory changes related to anti-money laundering (AML) and compliance. We are trying to maintain a balance between stimulating the financial market and complying with international requirements. As a result of these reforms, the correspondent network of Azerbaijani banks, especially in the United States, has expanded significantly."