Georgia is embracing its role as a friendly home for cryptobusiness6

Thanks to low energy prices and lax legislation, the Eastern European nation of Georgia has become a true haven for crypto businesses.

Bitfury moved there in 2015—following a $10 million loan and obtaining 45 acres of land for $1—with a promise of selling energy at half the cost as in the US, the New York Times reports. Soon thereafter, the government also introduced tax-free zones in an attempt to lure more tech people to the former Soviet country to boost the economy.

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