Binance opens a new regional hub in Georgia
Crypto exchange Binance jumped in Georgia ahead of its plans to push crypto adoption & its crypto services in its region.
Georgia has been a very crypto-friendly jurisdiction for crypto companies as well as retail crypto traders. In the present time, retail crypto traders don’t need to pay any tax on their gains. Many crypto companies noted that Georgia has better laws & rules for the crypto companies to evolve.
On 27 March 2023, Binance announced the launch of a crypto & blockchain education hub in Georgia. Exchange confirmed that 25 people are already working in its crypto education team in Georgia and further it will hire a dozen of local crypto talents by the end of this year.
Binance’s regional director Vladimir Smerkis said that Georgia has been a very good region for the crypto sector, in terms of crypto adoption, and also the exchange doesn’t see any kind of challenges in this region in terms of crypto adoption.
Binance spokesperson also shared the Georgian regulatory agencies’ opinion on the crypto sector and noted that local regulators don’t want to impose strict regulatory policies to ensure the positive innovation of the crypto & blockchain sector in the country.
Earlier this, in Nov 2022, Binance CEO Changpeng Zhao (CZ) had a meeting with Georgia’s prime minister Irakli Garibashvili. In the meeting, they talked about the regulatory policies and crypto adoption in the region.
Recently Binance exchange was sued by the United States Commodities Futures & Trading Commission (CFTC) over illegal derivatives crypto trading services & non-cooperation with the investigators in the past.
Binance CEO CZ confirmed that Binance never violated any rules and all Binance’s rules are equally applicable to him & his employees.
CZ also confirmed that exchanges have strong anti insider trading policies, where Binance employees can’t sell their crypto purchase before 3 months of the purchase period.
Read also: Crypto companies moving under crypto-friendly jurisdiction
