Azerbaijan is set to introduce a new regulatory framework for the cryptocurrency market, mandating that all crypto asset businesses obtain a license from the Central Bank. Fidan Tofidi, Director of the Financial Technology and Innovation Department, announced that the Virtual Asset Market Regulation Bill has been drafted and is expected to be enacted this year. The legislation will prohibit unauthorized crypto operations and impose compliance requirements, including anti-money laundering, counter-terrorist financing, and customer identification protocols. This regulatory initiative will be part of Azerbaijan's Financial Market Development Strategy for 2027—2030, ensuring ongoing supervision of licensed entities.