of the world cryptocurrency Georgia, which is among the friendly countries, is a global crypto- It is taking firm steps forward in line with its goals of becoming a center.
On this road before Georgian Prime Minister Irakli Garibashvili and Deputy Prime Minister Levan Davitashvili, He met with Ripple CEO Brad Gralinghouse.
According to the news of the country’s local news agency Business Media Georgia, Georgia’s Minister of Economy and Deputy Prime Minister Levan Davitashvili government’s digital and cryptocurrency announced that it has prepared a new regulatory framework for trade.
Deputy Prime Minister Davitashvili stated that the new draft law on cryptocurrencies has been sent to the parliament and they are waiting for its adoption in the autumn session.
“We expect Georgia to have a legislative update in the fall that will significantly improve its financial sector.
The Georgian government is trying to coordinate local cryptocurrency laws with three major European Union directives.
These are: EU Tax Services Directive (PSD2), Capital Requirements Directive (CRD) and Virtual Asset Services Providers Directive (VASP).
This latest proposal, which includes granting legal status to entities involved in digital asset trading and defining obligations and rights, is one of the most important steps towards sustainable regulation of the cryptocurrency industry in the country.”
Emphasizing the importance of establishing a legal environment for crypto services and crypto exchanges in Georgia, Levan Davitashvili added that the proposal clearly includes certain obligations for exchanges in the fight against money laundering and terrorist financing.
Deputy Prime Minister Davitashvili also said that the newly presented proposal will make it easier for major players of the crypto industry to enter Georgia.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!