One of the largest financial supervisors in Europe met with the National Bank of Georgia (NBG) and other members of the finance sector to discuss cryptocurrency regulation, according to a post on the NBG’s site May 18.
According to the post, a representative from Germany’s Federal Financial Supervisory Authority (BaFin) met with members of the NBG, the international financial institutions (IFI), private sector, commercial banks, brokers, audit, and legal companies to increase awareness of crypto in the country. At the meeting, the participants had a chance to receive detailed information on the crypto industry from the leading financial supervisory authority of Europe.
In December 2017, Georgia’s NBG took a sceptical stance towards cryptocurrencies, urging citizens to be cautious. The bank told the public that cryptocurrencies do not constitute a legal means of payment, any crypto-related activity is not regulated, and that the NBG bears no responsibility for the subject.