The local financial turnover can enter a virtual "digital currency", stated at today's seminar in Baku, organized in Baku organized by the Expert Commission Technical Assistance and Information Exchange (TAIEX) of the European Commission.
For the residents of Baku, and, moreover, for people living in the regions the notion «Bitcoin» says nothing, however, it is the exchange electronic payment system that uses the same name for the unit of accounting. However, Azerbaijan should be ready for use outside the control of the Central Bank of Bitcoin, said at the seminar chief specialist of the legal department of the Financial Supervision Commission of Poland Adam Janiszewski, states that the turnover of the digital currencies more popular in Europe. Its advantage is that the turnover is carried out without the supervision of the Central Bank and the national tax authorities. New offspring of globalization causes serious concern in the fiscal authorities in many countries of the Old World, but is welcomed by the owners of the money due to the symbolic transaction (average premium of about 0,0001 BTC per transaction when calculating the rate of about $ 240 for 1 BTC.)
According to the statistics of operations conducted with Bitcoins, up to 60% of exchanges accounted for the Chinese yuan, 30% - on the US dollar, they are significantly behind the euro and the pound sterling. The world is a little more than 5,000 companies that receive digital currency in exchange for goods and services. The average daily turnover of about 1 million BTC ($ 240m.), and these figures are increasing every day.
It was noted at the seminar, that financiers from Azerbaijan should study European legislation in the field of working with Bitcoin and other means to stimulate non-cash payments, and parliamentarians should prepare to bring local laws into line with European legislation. It is important to improve the transparency of the economy and strengthening of financial discipline on a national scale, as developed countries for a long time was flexible on the issue of control over financial transactions.
As an example, Adam Janiszewski led the Polish program of non-cash payments in the years 2014-2020, which paves the way for significant progress in this area. --17D-
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review