The National Bank of Georgia said three of the 14 virtual asset-related entities sanctioned under the European Union's 21st package against Russia are incorporated in Georgia, but none is regulated by the central bank. Based on information available to it and an inquiry by the relevant investigative service, none of the sanctioned companies' activities was in Georgia. Additional investigative actions have also been initiated against them. The central bank added that its regulatory framework for virtual asset service providers imposes strict market entry and operating requirements intended to filter out entities linked to illegal activity. It said the framework is aligned with Financial Action Task Force standards and international practice, citing Moneyval's 2024 assessment, which rated Georgia as largely compliant with Recommendation 15 on new technologies and the regulation of virtual asset service providers.
National Bank of Georgia2026-07-24
National Bank of Georgia says three EU-sanctioned virtual asset firms are Georgia-based but not NBG-regulated
The National Bank of Georgia said three virtual asset firms sanctioned by the European Union under its 21st Russia sanctions package are based in Georgia but are not regulated by the central bank. It added that the firms were not operating in Georgia, further investigative actions are under way, and Georgia's virtual asset framework was rated largely compliant with FATF Recommendation 15 by Moneyval.