Georgia, one of the world’s most cryptocurrency-friendly countries, is moving to introduce new crypto regulations to pursue its ambitions to become a global crypto hub.
Georgian lawmakers have prepared a new regulatory framework targeting digital business and cryptocurrency trading in the country, Georgian Minister of Economy and Vice Prime Minister Levan Davitashvili announced.
Davitashvili said that a draft bill has been sent to the parliament and the amendments are expected to be passed in the autumn session, local news agency Business Media Georgia reported on Monday.
According to the minister, the draft bill aims to coordinate local cryptocurrency laws with three major European Union directives, including the Payment Services Directive (PSD2), the Capital Requirements Directive (CRD) as well as the Virtual Asset Service Provider (VASP) law.
The VASP law aims to provide legal status to entities involved in digital asset trading. The new framework will also prevent the use of...
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