- 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 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 (PSD 2), Capital Requirements Directive (CRD), and the Virtual Asset Service Providers Directive (VASPs).
- It is “particularly important for the formation of a legal environment for crypto services and crypto exchanges in Georgia,” Davitashvili emphasized.
Georgia to Update Crypto Regulations to Incorporate EU Rules, Legalize Industry
