The Central Bank of Azerbaijan recently issued a statement with regard to growing interest in the country in the virtual currency bitcoin.
According to the CBA, there is currently no legislation that addresses the mechanism of Bitcoin regulation.
"In accordance with the Azerbaijan Constitution, it's prohibited to use other means of payment in the country except the national currency: Azerbaijani manat. At the same time the Central Bank has developed the draft law 'On payment services,' which implies creation of the legal framework for use of e-money, rules of their issue and application, as well as provides measures for the state control of this sphere. Adoption of this law will allow the creation of favorable conditions for use of controlled e-money," the bank said.
Elsewhere, China has issued new rules restricting the exchange of bitcoin for local currency, and the European Banking Authority has warned that bitcoin lacks consumer protections.
- ASIAN DEVELOPMENT BANK: ADB, Tonga Sign Grant Agreement for Ongoing Urban Project
- ANELIK BANK - ARMENIA: Order a free Idram Rocket Visa Card and get 2 KinoPark invitations
- ACBA-CREDIT AGRICOLE BANK: French-Armenian Doctors Program in Tavush
- CENTRAL BANK OF AZERBIJAN: On results of deposit auction on attraction of funds by the Central Bank
- CARTUBANK - GEORGIA: Card tariffs
- ASIAN DEVELOPMENT BANK: ADB President Reaffirms Strong Support to Maldives
- ROSBANK - RUSSIA: Rosbank will keep zero service fee for money transfers via Faster Payments System
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Ambassador of Belarus V.Kolesnik meets the Deputy Secretary-General of ASEAN
- BANK OF GEORGIA: The Bank of Georgia has received the Global Finance Award for "Best Internet Banking for Businesses in Central and Eastern Europe"
- FIRST UKRAINIAN BANK - UKRAINE: FUIB doubled sales of OSAGO insurance policies