Araratbank does not work with bitcoins
15.06.2018,
18:29
Araratbank board chairman Ashot Osipyan speaking today to journalists after an annual meeting of shareholders said the bank does not process transactions with crypto-currencies because of several reasons.
YEREVAN, June 15. /ARKA/. Araratbank board chairman Ashot Osipyan speaking today to journalists after an annual meeting of shareholders said the bank does not process transactions with crypto-currencies because of several reasons.
In his words, despite the growing popularity of this type of investment, the bank does not work with crypto currencies because it's not clear who issues them, neither is clear the volume of emissions and besides they are not secured.
"We regard bitcoins as speculative assets, and the bank does not work with them and you are not advised either," Osipyan said.
The banker also commented on the government's decision to amend the tax legislation, allowing the local commercial banks to "forgive" citizens fines and penalties imposed for delinquencies in unpaid loans.
If the proposed amendments are adopted by the parliament, then banks will be allowed not to pay profit tax from those fines and penalties, while earlier they were obliged to do this regardless of whether the fine was collected or not.
"Imposing fines and penalties is not a panacea for solving problems with delinquent loans. Thanks to this decision, banks will be able to significantly benefit, in particular, by being exempt from paying income and profit taxes on these penalties," Osipyan said.
Speaking about the prospects of Armenia's economic development, the banker noted that he sees great opportunities and prospects.
In his words, the main emphasis should be put on the development of the industrial and agricultural sectors because both have huge potential. -0-
In his words, despite the growing popularity of this type of investment, the bank does not work with crypto currencies because it's not clear who issues them, neither is clear the volume of emissions and besides they are not secured.
"We regard bitcoins as speculative assets, and the bank does not work with them and you are not advised either," Osipyan said.
The banker also commented on the government's decision to amend the tax legislation, allowing the local commercial banks to "forgive" citizens fines and penalties imposed for delinquencies in unpaid loans.
If the proposed amendments are adopted by the parliament, then banks will be allowed not to pay profit tax from those fines and penalties, while earlier they were obliged to do this regardless of whether the fine was collected or not.
"Imposing fines and penalties is not a panacea for solving problems with delinquent loans. Thanks to this decision, banks will be able to significantly benefit, in particular, by being exempt from paying income and profit taxes on these penalties," Osipyan said.
Speaking about the prospects of Armenia's economic development, the banker noted that he sees great opportunities and prospects.
In his words, the main emphasis should be put on the development of the industrial and agricultural sectors because both have huge potential. -0-
