Baku, Azerbaijan, June 14
By Huseyn Vaiyev - Trend:
Registration of the first crypto-broker in Azerbaijan has been postponed for an indefinite period, a source in the country's crypto-currency market told Trend.
Earlier, it has been envisaged that the representation of Buroka Technologies Company in Azerbaijan will start its activities this year, however, due to unresolved legal regulation issues, the registration procedure has been postponed.
As previously reported, the documents for the registration of the company in the country were submitted at the beginning of the year, meanwhile the regulatory issues that will be necessary for its further activities in the country are being studied.
Buroka Technologies Company intends to trade five cryptocurrencies - Bitcoin, Ethereum, Ripple, Dash and Litecoin in Azerbaijan.
As previously reported, the Ministry of Taxes of Azerbaijan proposes to introduce a tax on turnover on cryptocurrencies accounting for 14 and 25 percent in relation to individuals whose turnover on cryptocurrencies reaches 2,500 manats and exceeds the established amount, respectively. There is no general idea about whether it is possible to work with cryptocurrencies or not in the country, and there are no recommendations and specific laws. On the other hand, crypto-exchange is not banned in the country, and today anyone can open a crypto-exchange office, work and pay taxes.
---
Follow the author on Twitter: @h_veliyev
