Georgian Central Bank Outlines Tentative Timeline for Cryptocurrency Regulation Bill

The National Bank of Georgia’s proposed regulation of cryptocurrencies is at the discussion stage with market participants, said Papuna Lezhava, the regulator’s vice president, according to Sputnik Грузия.

The final version of the document is planned to be released in the summer or autumn, he added.

Lezhava stressed that the bill is aimed at regulating the trading of crypto assets and cryptocurrency platforms and at protecting consumer rights. The document does not cover mining.

Earlier, the chairman of the National Bank, Koba Gvenetadze, said that the bill includes the framework for registration and licensing, verification of compliance, and oversight of AML procedures for participants in the Bitcoin market.

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