VASP Licensing Georgia: Your Guide to Crypto Service Provider Licenses

When working with VASP licensing Georgia, the official process for obtaining a Virtual Asset Service Provider licence in the Republic of Georgia. Also known as Georgia crypto licence, it allows businesses to legally offer exchange, wallet, or payment services for digital assets. The National Bank of Georgia, the primary regulator that issues VASP licences oversees applications, reviews business plans, and conducts fit‑and‑proper checks. VASP licensing Georgia encompasses Anti‑Money Laundering (AML), rules designed to stop illicit fund flows and ensure transaction transparency, which means every applicant must implement robust KYC procedures, transaction monitoring, and reporting mechanisms. The framework also aligns with Financial Action Task Force (FATF), global standards that shape local licensing and enforcement, so compliance teams need to map their policies to the FATF Travel Rule and risk‑based approach. As a result, a licensed crypto exchange, a platform that matches buyers and sellers of digital assets can operate with confidence, attract institutional partners, and avoid costly enforcement actions.

Key Steps and Practical Requirements

The licensing journey starts with a detailed application submitted to the National Bank of Georgia, where the regulator demands a clear corporate structure, proof of capital adequacy, and a comprehensive AML policy. Applicants must show they have a dedicated compliance officer, automated monitoring tools, and a record‑keeping system that stores transaction data for at least five years. After filing, the Bank conducts a risk assessment that looks at the type of services offered—whether a simple wallet provider or a full‑scale exchange—and evaluates the geographic reach of the business. If the service touches high‑risk jurisdictions, the regulator may request additional safeguards, such as enhanced due‑diligence checks or third‑party audit reports. Once the Bank is satisfied, it issues a VASP licence that is valid for three years, after which a renewal requires updated AML procedures and proof of ongoing compliance with FATF recommendations. Failure to maintain these standards can lead to fines, suspension, or revocation of the licence, which is why many firms invest in dedicated compliance software and regular internal audits.

What you’ll find in the articles below is a mix of deep‑dive analyses and quick‑reference guides covering everything from the latest changes in Georgia’s crypto regulatory landscape to step‑by‑step walkthroughs of the licence application form. Whether you’re a startup founder looking to launch a decentralized exchange, a compliance officer needing a checklist for AML controls, or an investor assessing the stability of Georgian VASPs, this collection gives you actionable insights and real‑world examples. Dive in to see how the pieces fit together and get a head start on the licensing process before the next regulatory wave hits.