The CBK Executive Board established a permanent body for evaluating and addressing regulatory challenges related to virtual money

In the course of the CBK's evaluating and warning engagements regarding the phenomenon of virtual money, the CBK Executive Board in the meeting held on February 26, 2018 has established a permanent body for evaluating and addressing regulatory challenges related to virtual money. This body structured in the form of an Advisory Group will monitor and analyze international developments on the regulation of virtual money, with focus on addressing them by the EU and regional countries’ regulators and will prepare recommendations for the CBK decision-making bodies regarding further steps in the function of virtual money regulation.
The CBK has been actively engaged in addressing issues related to virtual money, by analyzing relevant developments, contacting responsible authorities in European countries, and communicating with the public either through its specific statements or of its officials’ statements. The CBK continues to draw attention to local entities regarding the risks for financial losses that may incur from investing in virtual money and on other potential implications.