Georgia's establishment of a formal regulatory framework for virtual assets has fundamentally shifted its landscape, moving from an unregulated frontier to a jurisdiction with defined rules overseen by the National Bank of Georgia (NBG). For any crypto enterprise, compliance is no longer an option but the essential foundation for operation, securing investor trust, and ensuring long-term viability. At Legal Sandbox Georgia, we provide expert legal guidance to navigate this complex environment, transforming stringent regulatory requirements into a powerful competitive advantage for your business. Our mission is to ensure your venture is built upon a bedrock of absolute legal certainty and operational integrity.
Our services encompass the entire process of registering as a Virtual Asset Service Provider (VASP) with the NBG. This is a meticulous procedure that extends far beyond simple paperwork. We strategically architect your application, conduct a thorough analysis of your business model and internal operational structures, and ensure your submission comprehensively addresses all regulatory criteria from the very beginning. This includes meeting stringent requirements for adequate capital, secure IT infrastructure, and a transparent governance framework. We manage all necessary documentation and act as your dedicated representative in all communications with the regulatory authorities.
The fight against financial crime is the central pillar of Georgia's crypto asset regulations. Our team possesses an in-depth understanding of the Law of Georgia on Facilitating the Prevention of Money Laundering and Terrorism Financing, fully aligned with the global standards set by the Financial Action Task Force (FATF). We collaborate closely with your team to design and implement a customized and highly effective Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) program. This involves establishing a sophisticated risk-based approach, developing robust internal control mechanisms, and creating rigorous procedures for Know-Your-Customer (KYC) and Customer Due Diligence (CDD). We also help you implement effective transaction monitoring systems and streamline the reporting process to Georgia's Financial Monitoring Service (FMS).
Securing a VASP license marks the beginning, not the conclusion, of your compliance journey. The digital asset sphere and its regulatory frameworks are in a constant state of evolution. Legal Sandbox Georgia serves as your long-term strategic partner, offering continuous advisory services to keep you ahead of regulatory shifts. We provide crucial support in preparing for potential audits from the NBG and adapting your internal policies to reflect any legislative amendments. Viewing regulatory adherence not as a burden but as a strategic asset, we help solidify your brand’s reputation, stability, and trustworthiness in the competitive Georgian market.
