И.о. President of the National Bank of Georgia Archil Mestvrishvili said that starting from September 1, the regulator will monitor the implementation of anti-money laundering norms by crypto companies.
Mestvrishvili underlined that the agency keeps working in this direction, as well as in the issues of complying with international financial sanctions.. Previously, virtual asset service providers (VASPs) were outside the jurisdiction of the regulator. However, starting September 1, this will change, and the Central Bank of Georgia plans to pay a lot of attention to this area.<br
“As part of monitoring compliance with sanctions, it was very important to pass last year’s VASP maintenance law, which will give the National Bank the ability to monitor virtual asset providers from a money-laundering perspective, which will become mandatory on September 1,” said Acting. Chairman of the Central Bank of Georgia.
It should be noted that Georgia has recently become very interesting for large global cryptocurrency firms. So Tether, the company behind USDT, the largest steblycoin, will promote blockchain and crypto education in Georgia. The largest exchange Binance also launched its center for the development of cryptocurrencies and blockchain in the country, and earlier the site presented educational programs in this area.
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