Georgia is Ahead of the Game When it Comes to Regulating Crypto Currencies

Georgia is Ahead of the Game When it Comes to Regulating Crypto Currencies

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Levan Davitashvili, Georgia's Minister of Economy says that a few bills regarding regulating crypto have already been presented to parliament.

Levan is pretty sure that the bills are going to pass and we will already see them in action in the third quarter of this year.

The bills are aimed around implementing crypto into the current financial system and do not include any major changes to the existing laws complying with EU directives.

They consist of:
PSD2, which is set around security and privacy while buying crypto of exchanges
CRD, which makes regulators to work with crypto-related instances under a certain criteria
VASP directives, is about connecting all the crypto service providers to lower the risks and ensure better security all throughout the space.

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