The National Bank of Georgia published a clarification following the United Kingdom’s sanctions on three virtual asset-related companies, stating that the entities are not regulated by the central bank and were operating without registration. As unregistered firms, none of them was subject to National Bank supervision. The central bank said that, within its mandate to identify unauthorized activity, it works closely with law enforcement and in this case provided information on the unregistered entities to law enforcement agencies in September 2025 and took supervisory measures. Based on the information available to it, an investigation is under way and, in some cases, liability has already been established. The bank added that its virtual asset service provider framework imposes strict market entry and operating requirements and is aligned with Financial Action Task Force standards, noting that Moneyval’s 2024 assessment rated Georgia as largely compliant with Recommendation 15.
National Bank of Georgia2026-05-26
National Bank of Georgia says three UK-sanctioned virtual asset companies were unregistered and outside its supervision
The National Bank of Georgia clarified that three UK‑sanctioned virtual asset companies were unregistered, not regulated by the central bank and therefore outside its supervision. It said it had identified the unauthorized activity, shared information with law enforcement in September 2025, and taken supervisory measures, with investigations ongoing and some liability already established. The bank added that its virtual asset service provider framework aligns with Financial Action Task Force standards and that Moneyval’s 2024 assessment rated Georgia largely compliant with Recommendation 15.