The National Bank of Georgia is working on a law on cryptocurrency

2022/05/55555-1651739301.jpg
Read: 462     14:00     05 Май 2022    

Consideration of the new law on cryptocurrency in Georgia is under discussion with market players, said Vice President of the National Bank Papuna Lezhava.
Cryptocurrency is virtual money; a miner is a computer that produces it. The process of producing virtual money is called mining, and the mining pool is an intermediary that combines these capacities in one space.
"We are working on a draft law regulating cryptocurrency, and now it is at the stage of consideration with market participants. The final document will be published either in the summer or in the fall," Lezhava said.
At the same time, he noted that the bill will regulate several areas at once, including consumer protection, the sale and trade of cryptocurrencies.
At the same time, Lezhava stressed that the law does not concern the mining of cryptocurrencies, but the market, including trading platforms.
Earlier, the issue of the appearance of a cryptocurrency Stock Exchange in Georgia was discussed by the country's Prime Minister Irakli Garibashvili and the founder of the Cryptocurrency Derivatives Exchange (FTX Crypto Derivatives Exchange) Sam Bankman-Fried during the Munich conference.
Cryptocurrency mining has been considered a popular activity in Georgia in recent years.
According to the results of a study by the Cambridge Center for Alternative Finance (CCAF), published in 2018, Georgia was in second place in the world in terms of the amount of electricity spent on cryptocurrency mining. And 60 megawatts of electricity were spent on obtaining virtual currency in the country.

sputnik-georgia.ru





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The National Bank of Georgia is working on a law on cryptocurrency

2022/05/55555-1651739301.jpg
Read: 463     14:00     05 Май 2022    

Consideration of the new law on cryptocurrency in Georgia is under discussion with market players, said Vice President of the National Bank Papuna Lezhava.
Cryptocurrency is virtual money; a miner is a computer that produces it. The process of producing virtual money is called mining, and the mining pool is an intermediary that combines these capacities in one space.
"We are working on a draft law regulating cryptocurrency, and now it is at the stage of consideration with market participants. The final document will be published either in the summer or in the fall," Lezhava said.
At the same time, he noted that the bill will regulate several areas at once, including consumer protection, the sale and trade of cryptocurrencies.
At the same time, Lezhava stressed that the law does not concern the mining of cryptocurrencies, but the market, including trading platforms.
Earlier, the issue of the appearance of a cryptocurrency Stock Exchange in Georgia was discussed by the country's Prime Minister Irakli Garibashvili and the founder of the Cryptocurrency Derivatives Exchange (FTX Crypto Derivatives Exchange) Sam Bankman-Fried during the Munich conference.
Cryptocurrency mining has been considered a popular activity in Georgia in recent years.
According to the results of a study by the Cambridge Center for Alternative Finance (CCAF), published in 2018, Georgia was in second place in the world in terms of the amount of electricity spent on cryptocurrency mining. And 60 megawatts of electricity were spent on obtaining virtual currency in the country.

sputnik-georgia.ru





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