The cryptoasset sector is growing fast, with its volume nearing $5 billion, David Kikvidze, head of the Fintech Association, said in an interview with "Commersant." He stated that this $5 billion turnover requires to be regulated.
«The crypto sector in Georgia is growing very fast. According to unofficial estimates, the market size has already reached about $5 billion that is quite a lot for the Georgian market. This kind of size certainly requires to be supervised and regulated. First of all, the National Bank’s motivation is caused by the fight against money laundering. According to official data, there are only 27 providers on the market, of which almost 80-90% are Georgian start-ups. If I’m not mistaken, there are two international organizations in Georgia. The market is steadily growing», David Kikvidze points out.
