70% of Georgian wine is still exported to Russia

According to the NBG, WhiteBIT already owns a VASP license in various EU countries, including Spain and Lithuania. After the start of hostilities in Ukraine, WhiteBIT left the Russian market.WhaitBIT card is in circulation, it is possible to withdraw money through an ATM with W/B Card. The trader will transfer the merchandise on the crypto exchange to the card and cash it in 3 currencies, Lari, USD and Euro.As you know, the digital wallet registration fee is 5,000 GEL. Also, as announced, bringing crypto asset trading platforms under the supervision of the NBG serves to legalize this segment and protect users. VASP requires appropriate software mechanisms for continuous monitoring of customer base and transactions.

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Participation in these exhibitions is important for the diversification and promotion of Georgian wine export markets, as wine professionals and trade representatives from different countries of the world gather here”, the Agency said.The Vinitaly trade fair hosted about a thousand companies from 60 countries, while the Orange Wine Festival exhibition of amber wines saw 87 wineries from 11 countries converge to the event.The body added it had promoted Georgian wines in the United States, Europe and Southeast Asian countries since 2013 to diversify target markets.

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The legislative piece calls for registration of non-commercial legal entities and media outlets in the country as “pursuing the interests of a foreign power” if they derive more than 20 percent of their funding from abroad, and was supported by 83 MPs in the 150-member lawmaking body.It requires groups “considered to be an organisation pursuing the interests of a foreign power” to be registered in public registry with the status and publicise their received funding.The law empowers the Ministry of Justice to “conduct research and monitor the issue at any time in order to identify organisations pursuing the interests of a foreign power”.The Parliament will have further two hearings of the draft law before it can be approved and enter into force.

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Each case of incorrect declaration of a transaction concluded with a client is sanctioned with 2,000 GEL in accordance with the rules for determining/imposing/enforcing the amount of the fine at the request of the AML legislation.In addition, a 300 GEL fine was added on the dubious transaction for late information. The deadline for submitted information to the Financial Monitoring Service is determined by 5 days. Each violation is sanctioned with 300 GEL.This year, this is the first fine announced by the NBG for brokerages. In 2023, several brokerages were fined, including TBC capital.There are 9 brokerage companies in the market.

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According to the payment service provider (PSP) the owner of Mastercard will be able to purchase any services and products from the crypto account through card transactions.The card will be tied to electronic (eMoney) and digital wallet (mycoins) at the same time. VASP (Virtual Asset Service Provider) is a subsidiary of MyCoins eMoney.According to eMoney, at the moment it is to be clarified whether it will be possible to withdraw money from the ATM only in GEL, or in crypto currency and USD as well.It is also not known whether crediting will be restored or not. eMoney also offered a crypto loan, the amount was determined by 1/2 of the collateral and was issued for a period of 14 to 90 days.It is also not known whether crediting will be restored or not. eMoney also offered a crypto loan, the amount was determined by 1/2 of the collateral and was issued for a period of 14 to 90 days.

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The Ministry of Finance said the meeting noted the fiscal parameters of the country had returned to the “safe level” as a result of “high” economic growth and “tight” fiscal policy pursued over the recent years.The body mentioned the IMF’s projections of economic growth of Georgia stood around 5.7 percent for this year.The discussion also noted “strategic reforms” by the Georgian authorities and the significance of the IMF support for them. 

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According to the payment service provider (PSP) the owner of Mastercard will be able to purchase any services and products from the crypto account through card transactions.The card will be tied to electronic (eMoney) and digital wallet (mycoins) at the same time. VASP (Virtual Asset Service Provider) is a subsidiary of MyCoins eMoney.According to eMoney, at the moment it is to be clarified whether it will be possible to withdraw money from the ATM only in GEL, or in crypto currency and USD as well.eMoney has been on the market for 16 years, has more than 2 million clients and serves various payments, including utility, banking. It is also possible to receive/send international money.PSP registered in the NBG, also has gambling wallet for betting. Serves both physical and electronic currency transactions.There are 13 currencies in the crypto-wallet, although there are actually 12 left at the moment because the transactions on wiva are suspended.eMoney already trades USD on BMatch.

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- Roman Gitsiridze, before being kicked out of the session by Okhanashvili, only managed to ask this one question.And the Euro-optimist, together with the rest of the "optimists", found himself outside the door of the meeting hall.Gotsiridze had to rhetorically ask the remaining questions and condemn the unworthy actions of the leader of the session, along with other expelled people (Dekanoidze, Khabeishvili, Vashadze, Manjgaladze...).Gotsiridze would have managed to ask all the questions if he had not given a long introduction. According to him, the law of "agents" in the civilian world is in effect in three countries, USA/Israel/New Zealand, for security and not for transparency.So the Georgian (Russian) draft law is wrong both in terms of time and context.Roman Gotsiridze pointed out to Okhanashvili the potential risks that will follow the possible legalization of the project.How can survive the disabled, displaced or other social groups dependent on international aid, including more than 200 independent regional media?This question remained unanswered.However, Gotsiridze managed to list the countries where the law applies: Russia, Nicaragua, Venezuela, Uzbekistan, Kyrgyzstan, Tajikistan.

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