The National Bank of Georgia has developed a regulatory framework for conducting non-cash currency exchange operations, setting out requirements for currency exchange points to offer these services. The framework defines the conditions and obligations for registering currency exchange points and obtaining a licence to conduct non-cash currency exchange activities. Rules for existing exchange points that operate solely cash currency exchange remain unchanged, but firms that want to add non-cash exchange services must meet the new requirements and obtain the relevant licence. Proposals can be submitted electronically until June 27, 2025, and only submissions in the required format and supported by adequate reasoning will be considered.
National Bank of Georgia 2025-06-19
National Bank of Georgia invites feedback on a new licensing framework for non-cash currency exchange operations
The National Bank of Georgia has established a regulatory framework for non-cash currency exchange operations, detailing registration and licensing requirements for currency exchange points. Existing cash-only exchange points remain unaffected unless they seek to add non-cash services, in which case they must comply with the new regulations.