Azerbaijan Plans Crypto Licensing Law by End of the Year With AML and KYC Requirements

Azerbaijan plans to introduce legislation by the end of the year that would require cryptocurrency companies to obtain licenses. According to NS3.AI, the planned rules would also require crypto firms to comply with Anti-Money Laundering and Know Your Customer requirements. The report did not provide additional details on the scope of the licensing regime, the regulator in charge, or potential penalties for noncompliance.