Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
Georgian Government Approved The Legal Framework for Crypto Regulations

Georgian Government Approves Legal Framework for Crypto Regulations

by BitDegree
September 1, 2022
in Global
Reading Time: 2 mins read
3k
A A
0
Share on FacebookShare on Twitter

Georgia is set to launch a framework for crypto regulations based on EU derivatives. 

The Georgian government has created a legal framework to regulate digital businesses and cryptocurrency trading. 

According to the news report shared by the local news portal Business Media Georgia, Minister of Economy and Sustainable Development of Georgia Levan Davitashvili noted that the bill has been sent to the Parliament and is expected to get approved during the autumn session. 

You might also like

Introducing K5, The Crypto Wallet Of The Future

Introducing K5, The Crypto Wallet Of The Future

January 26, 2023
7.3k
How blockchains and cryptocurrency will revolutionize supply chains.

How blockchains and cryptocurrency will revolutionize supply chains

January 23, 2023
7.3k

We expect that in the fall, Georgia will have updated legislation that will significantly develop the financial sector.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

The new framework was built upon three European Union derivatives: Capital Requirements Directive (CRD), Virtual Asset Service Providers Directive (VASP), and Tax Services Directive (PSD2). 

The new regulatory framework aims to form clear guidelines on providing legal statuses to “entities involved in virtual asset trading” and distinguishing their obligations and rights. Moreover, the new framework will provide requirements for the prevention of money laundering and terrorist financing.

The news report noted that major crypto exchanges are already interested in joining the Georgian crypto market. Business Media Georgia stated that one of the largest crypto exchanges, Binance, is planning to open its regional headquarters in Georgia. 

Based on the report, the Prime Minister, Irakli Gharibashvili, has met with representatives of Ripple and FTX to discuss their plans to join the Georgian crypto market. It seems that mentioned crypto exchanges are waiting for a regulatory framework and licensing of crypto-related companies. 

According to the minister, these are only the first steps Georgia is taking to become a European crypto-hub. The idea seems quite realistic as Georgia places fourth in the Forex Suggest study, which sought to identify the most crypto-friendly jurisdiction. 

Earlier this year, the Governor of the National Bank of Georgia announced its plans to regulate the local digital asset market.

Aaron S. - Expert Reviewer

by Aaron S. – Expert Reviewer, BitDegree


This article was originally published in Bitdegree and can be viewed here:

https://www.bitdegree.org/crypto/news/georgian-government-approves-legal-framework-for-crypto-regulations

Tags: Bitdegree
Previous Post

Paraguayan President Rejects Cryptocurrency Regulation Law

Next Post

Belarusian Cyber Partisans Attempt to Sell Lukashenka’s Passport NFT

BitDegree

BitDegree

Related Stories

Introducing K5, The Crypto Wallet Of The Future

Introducing K5, The Crypto Wallet Of The Future

by Klever
January 26, 2023
0
7.3k

KleverOS, the revolutionary Klever crypto wallet operating system that powers K5, ushers in a new era of crypto wallets. Today,...

How blockchains and cryptocurrency will revolutionize supply chains.

How blockchains and cryptocurrency will revolutionize supply chains

by Warren Manuel
January 23, 2023
0
7.3k

Supply chain management and logistics is a critical aspect of any business, as it involves the coordination and movement of...

Financial inclusion in the unbanked through cryptocurrency and blockchain

Financial inclusion in the unbanked through cryptocurrency and blockchain

by Warren Manuel
January 21, 2023
0
7.3k

The Role of Cryptocurrency and Blockchain in Enabling Financial Inclusion for the Unbanked and Underbanked Cryptocurrency and blockchain technology have...

Crypto mining alternatives

Alternatives to cryptocurrency mining that would be more sustainable

by Warren Manuel
January 19, 2023
0
7.3k

The Environmental Impact of Cryptocurrency Mining and the Potential for More Sustainable Alternatives Cryptocurrency mining, the process of using computer...

Next Post
Belarusian Cyber Partisans Attempt to Sell Lukashenka’s Passport NFT

Belarusian Cyber Partisans Attempt to Sell Lukashenka’s Passport NFT

Crypto Miner Malware Disguises Itself as Google Translate and Other Applications

Crypto Miner Malware Disguises Itself as Google Translate and Other Applications

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8332 shares
    Share 3333 Tweet 2083
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7018 shares
    Share 2807 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5913 shares
    Share 2365 Tweet 1478
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5357 shares
    Share 2143 Tweet 1339
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Introducing K5, The Crypto Wallet Of The Future

Introducing K5, The Crypto Wallet Of The Future

January 26, 2023
How blockchains and cryptocurrency will revolutionize supply chains.

How blockchains and cryptocurrency will revolutionize supply chains

January 23, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version