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Baku Stock Exchange describes development of cryptocurrency market in Azerbaijan

Economy Materials 19 September 2024 13:08 (UTC +04:00)
Baku Stock Exchange describes development of cryptocurrency market in Azerbaijan
Lada Yevgrashina
Lada Yevgrashina
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BAKU, Azerbaijan, September 19. Chairperson of the Board of Baku Stock Exchange CJSC Ruslan Khalilov has weighed in on the growth of the cryptocurrency market in Azerbaijan, Trend reports.

He stated at a press conference that such a market can develop with more active development of the secondary stock market.

“At the moment there are no plans for the cryptocurrency market; it is not a near-term prospect,” Khalilov said.

In Khalilov's opinion, the main market for digital products in Azerbaijan needs to be strengthened before the country can make a direct shift to them.

“In this regard, it is necessary to complete the implementation of training programs and digital transformation programs,” Khalilov stressed.

According to him, the relevant legislation will be prepared by the Central Bank at a certain stage in the country, and only after that, the market will react.

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