Georgia’s parliament is set to consider amendments to the law on the National Bank that would establish the regulator’s powers over the issuance and circulation of a digital lari.

The proposed legislation would clarify the legal status of the digital lari by expanding the definitions of “banknotes” and “issuance” to cover money issued in digital form, according to Interfax.

However, Paata Kvijinadze, chairman of parliament’s Finance and Budget Committee, said Georgia is not yet ready to introduce a digital national currency.

The proposed changes would nevertheless allow the National Bank of Georgia to acquire the necessary software solutions and infrastructure in advance, preparing for a possible launch in the future.

Chairman of the Board of the National Bank of Georgia Natia Turnava previously said the country was developing a legal and regulatory framework for digital assets. The state-backed digital lari project is being developed separately from private initiatives to create stablecoins.

Georgia already has three digital banks operating in the country, while a regulatory framework is also in place for virtual asset service providers (VASPs).