A Crypto-Company Transaction and Accountable-Person Status
The purchase and sale of a crypto-company in Georgia is not merely a corporate transaction — it simultaneously falls under the regime of the Law on Facilitating the Suppression of Money Laundering and the Financing of Terrorism. Article 3 of that law names the virtual asset service provider directly among the financial institutions in the list of accountable persons. This means that a large transaction of an enterprise owning a crypto business takes place under dual regulation: the rules of corporate law determine the transfer of the share, while accountable-person status imposes preventive duties upon it.
Article 2 of the law creates the common language of this regime: accountable person, client, business relationship, one-off transaction, identification, verification, beneficial owner — each of these concepts is defined, and it is on them that the law builds its requirements. For the parties to a transaction this means that in the acquisition process identification and verification procedures, the discovery of beneficial owners and the fixation of the scope of the business relationship are to be expected — regardless of the amount of the transaction.