Central Bank of Azerbaijan Rules Out Issuing Cryptocurrency

The Central Bank of Azerbaijan (CBA) has indicated that it does not intend to issue a state-backed cryptocurrency, also known as a central bank digital currency (CBDC). Speaking to reporters in Baku on November 15, CBA first Chairman Alim Guliyev stated that the Bank treats cryptocurrencies conservatively, based on a belief that the use of

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It’s Official: Azerbaijan Taxes Revenue Received in Cryptocurrency

Azerbaijan has joined the growing list of countries that are taxing revenue received in cryptocurrencies. Revenues received in cryptocurrency in Azerbaijan are subject to taxation, according to Nijat Imanov, deputy director general of the tax policy and strategic research department for the Taxes Ministry, according to the country’s Trend News Agency. Imanov noted the requirement

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