It has been reported that the government of Georgia has recently passed the law making cryptocurrencies Value-added-tax free.
The bill defined cryptocurrencies as digital assets that are exchanged electronically and based on a decentralized network, requiring no intermediary and managed using distributed ledger technology.
However the finance minister note that the Georgian Lari will remain the legal tender in Georgia and cryptos are not allowed to be used for payments.
Local mining businesses will still be subject to VAT except for companies that are registered abroad which is viewed by many might result to local mining businesses to relocate abroad.
Headlines for the world of Cryptocurrencies - July 13, 2019
- Iran Becoming The Bastion For Cryptocurrency Miners
- Coinbase Whales Buying Up BTC After $1500 Dump
- Binance’s $2.5 Billion BNB Token Burn
- State Of Brazil Releases Blockchain-Enhanced Government Bidding Platform
- Crypto Now VAT-FREE IN Georgia
Headlines for the world of Cryptocurrencies - July 12, 2019
- PwC Reports Token Sales In Q1 Raised $3.3 Billion
- Crypto Too Disruptive To Ignore
- Binance Suggest Merge Mining To Mitigate Halving Shocks
- First Consumer-Facing Blockchain Token Approved By SEC
- Another Bitcoin Derivatives Soon To Hit The U.S.
Headlines for the world of Cryptocurrencies - July 11, 2019
- Blockstack Token Offering Approved By SEC
- Shell Invested In Blockchain Start Up For Energy Tracking
- Registration With Financial Watchdog A Requirement In Canada For Crypto Exchanges
- Bitcoin Core Developers Gets $60,000 Grant From Bitmex
- Gemini Eying Libra Association Membership
