Georgia’s government is taking steps to update its crypto regulation in line with the European Union – and hopes that the move will help this country at the intersection of Europe and Asia become a “hub” for the global industry.
Per iXBT and News Georgia, the nation’s Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili, claimed that a “bundle” of draft bills had already been sent to parliament.
The minister was confident that these bills would be approved, and that legal “changes” would be OKed during the upcoming autumn parliamentary session.
Davitashvili stated that all of the bills are amendments to existing laws that will “provide for the convergence” of Georgian legislation with a number of EU directives that pertain to crypto.
Namely, these include:
The Payment Service Directive (PSD2), which requires exchange customers to submit additional information before buying crypto
The Capital Requirements Directive (CRD), which requires...
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