Work on legal regulation of cryptocurrency market postponed in Azerbaijan
Baku, Azerbaijan, October 4
By Huseyn Veliyev – Trend:
Work on preparation of the draft law on regulation of cryptocurrency trade has been suspended in Azerbaijan, the center for study and development of the cryptocurrency market and the blockchain technology told Trend.
The center noted that the reasons for the suspension of the work in this direction have not yet been revealed.
“We expected that the working group created at the beginning of the year will publish by October data regarding work being done in this direction. For example, we expected at least a review of which work has been carried out in Russia, Belarus, Ukraine. However, none of these has been done, and, as we have learned, all the work was suspended in July. There is also no certainty as to what has been done before the middle of the year," the source said.
Nevertheless, the center intends to clarify this issue and to find ways to access the working group by the end of the year.
"The center plans to organize by December a sectoral conference where the issues of the practical use of blockchain and the current state of the cryptocurrency market will be discussed. The relevant state authorities are expected to be represented at the event. Presumably, the issue of legal regulation of the industry in the country will be clarified at this conference", the source said.
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