Lights, camera, regulate.

More and more countries are jumping on the regulatory bandwagon of cryptocurrencies. This time the protagonist is Kazakhstan, followed by Georgia.

Regulaciones September 30
Marta Navarro

According to statements made by its Kazakh president at the Digital Bridge 2022 international forum, the country aspires to become an international leader in the digital technology field, including cryptocurrencies and mining within that framework. 

Among the plans they have in mind, the bank of the Kazakh country is testing a financial instrument that converts cryptocurrencies into local currency. Depending on the demand generated by this system, they will consider legalizing it and bringing it online in their country. 

Kazakhstan is steadfast in its move towards adopting crypto assets with Georgia hot on its heels, with the introduction of new regulations in the cryptographic field focused on digital businesses and crypto trading. 

According to the Minister of Economy and Deputy Prime Minister of Georgia, Levan Davintashvili, the adoption of such standards is essential for the country to have sustainable regulation of the crypto industry. To accomplish this, they have taken into account existing regulations within the framework of the European Union regarding this issue. 

Through these initiatives, Georgia aims to become a global cryptocurrency hub. 

All this benefits the Russians who are fleeing their country to these territories, who have found in cryptocurrencies a way of accessing their funds after the enormous obstacles imposed by the West in paying with their cards. 

The situation concerns the European Union, which is considering banning Russian citizens and entities from holding assets in European digital wallets. 

Georgia has already positioned itself as one of the most accessible countries in the adoption of cryptocurrencies. 

And it's not the only one. As behind trails a long list of other countries that seems to grow daily. 

What will be the next country to integrate cryptocurrencies into its financial system? 

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