Georgia's central bank plans to regulate cryptocurrencies, report says

The Governor of the National Bank of Georgia, Koba Gvenetadze, said the central bank is planning to intervene cryptocurrency markets within the eastern European country, according to a report from The Financial. Crypto markets in Georgia have monthly transactions of up to GEL 5M ($1.6M), The Financial reported, citing Gvenetadze's remarks. The "draft" consists of rules for registering crypto service providers, testing compliance procedures and stopping money laundering, Gvenetadze explained. "Also, persons that carry out activities related to virtual assets should be classified by financial institutions as high risk clients and should be subject to appropriate enhanced preventive measures," Gvenetadze added. Prior to this draft, Georgia had already banned financial institutions from providing crypto exchange and transfer services. Looking at intraday crypto price action, bitcoin (BTC-USD +0.4%) is rising a bit to $45.8K and ethereum (ETH-USD +1.0%) is drifting higher to $2.36K. At the beginning of April, Indonesia planned to charge a value-added