Georgia to Update Crypto Regulations to Incorporate EU Rules, Legalize Industry – Regulation Bitcoin News

The government of Georgia has approved amendments to the legal framework for the Caucasian nation’s financial sector, including additional regulations for crypto and fintech activities. The move aims to align Georgian law with relevant EU provisions.A legislative package expanding the regulatory framework for companies dealing with crypto assets has been submitted to the parliament by the government in Tbilisi.

According to Levan Davitashvili’s statement, the draft legislation prepared by the Georgian government has been tailored to achieve convergence with three important directives of the European Union — the Payment Services Directive , Capital Requirements Directive , and the Virtual Asset Service Providers Directive .

notes. It is “particularly important for the formation of a legal environment for crypto services and crypto exchanges in Georgia,” Davitashvili emphasized.The Georgian economy minister considers the synchronization of the country’s financial legislation with the EU directives as a first move toward reaching the ultimate goal of turninginto a crypto hub.

...a good step in the right direction

Hope that they will not destroy everything with wrong regulation

Crypto hun or Bitcoin hub?

That's interesting! But I can't imagine that this country become a crypto hub soon. The UK try to be a crypto hub but can't develop crypto regulations.

Crypto currency Hub😂. is it handleable the country.? The whole world cant handle it. and stop it. if its happen upcoming the projects lanch their🚀

This is crazy. They will probably make bitcoin and tether legal tender soon.

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Crypto mass adoption!

Georgia for sure doing great stuff. They will attract more investments into the country

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