Georgia’s introduction of a regulatory framework for virtual assets in 2023 transformed the country from a potential crypto-hub into a jurisdiction with clear, defined rules. In this new, regulated era, compliance is no longer optional—it is the cornerstone of your operations, a guarantee of investor confidence, and a prerequisite for long-term success. Legal Sandbox Georgia offers expert legal strategy to ensure your business achieves full compliance with the requirements of the National Bank of Georgia (NBG) and turns complex regulations into your competitive edge.
Our service covers the entire lifecycle of registration as a Virtual Asset Service Provider (VASP). This process is far more than just filling out paperwork; we architect a strategic application for you, analyze your business model and internal processes, and ensure your submission meets all NBG criteria from the outset, including requirements for adequate capital, IT infrastructure, and governance structure. We prepare all necessary documentation and represent your interests at every stage of communication with the regulatory body.
At the core of crypto regulation lies the fight against financial crime. Our team possesses a deep understanding of Georgia’s Law on Facilitating the Prevention of Money Laundering and Terrorism Financing, as well as the international standards set by the FATF. We work with you to design and implement a tailored and effective AML/CFT program. This involves establishing a risk-based approach, developing internal control mechanisms, creating procedures for Know-Your-Customer (KYC) and Customer Due Diligence (CDD), setting up a system for monitoring suspicious transactions and reporting to the Financial Monitoring Service (FMS) of Georgia, and appointing a designated AML officer and providing regular staff training.
Obtaining a license is only the first step. The crypto world and its regulatory environment are constantly evolving. Legal Sandbox Georgia acts as your long-term strategic partner, providing ongoing counsel, assisting with preparations for NBG audits, and adapting your policies to legislative changes. Flawless regulatory compliance is not a burden; it is the foundation of your brand’s reputation, stability, and trustworthiness.
