BAKU, Azerbaijan, December 24. The Central Bank of Azerbaijan (CBA) held an event titled "Virtual Assets and Market Needs: Expert Discussion" with the participation of relevant experts, TurkicWorld reports via the CBA statement.
The event shone a spotlight on the nuts and bolts of crafting a regulatory and control framework for virtual assets, delving into the virtual asset market and the CBA's game plan in this domain.
The participants were also familiarized with the experiences gained in the regulation of virtual assets in Kazakhstan and Türkiye.
The discussions made various proposals on current challenges, risks, and potential opportunities in the virtual asset market, as well as the integration of these assets into the financial sector.
Moreover, the participant experts engaged in dynamic discourse and addressed inquiries from fellow attendees.
The discussions will enable the use of international experience in this area, which will help form the regulatory foundation for the virtual asset market in the country, thus ensuring safer and more transparent market management.
To note, the volume of virtual assets in Azerbaijan amounted to $4.4 billion in 2023.
