The Legal Basis That Exists — and Its Exact Boundaries
Banking access for a crypto business in Georgia is often discussed emotionally, so it is worth starting precisely with what the law actually says. The law on the payment system and payment services establishes: a payment-service provider registered by the National Bank of Georgia has the right to open a payment account with a commercial bank and to have access to services through that payment account on an objective, non-discriminatory and proportional basis. The access must enable the payment-service provider to carry out payment services smoothly and effectively.
The same norm contains a defensive mechanism: where such access is refused, the commercial bank is obliged, within no more than 7 calendar days of the refusal, to provide the National Bank of Georgia with information about it and a well-founded justification. In other words, a refusal must be communicated and justified in a form transferred to the supervisor — this creates the balance around which this whole page is built.