By the decision of the National Bank of Georgia (NBG), in order to ensure additional transparency for consumers, a Virtual Asset Service Provider shall be obliged to display, in a visible place and form for the consumer, or make easily available, the individual administrative-legal act issued by the NBG confirming the entity’s registration as a Virtual Asset Service Provider. This obligation applies to all spaces/channels where the virtual asset service is provided (head office, branch, self-service kiosk, website, application, etc.).

The corresponding amendment has been made to the "Regulation on Registration and Regulation of Virtual Asset Service Providers." The amendment ensures increased consumer awareness and, thereby, the protection of their interests, which will facilitate the effective enforcement process of the legislative requirement regarding registration as a Virtual Asset Service Provider by the National Bank of Georgia. This change aligns with the development of the regulatory framework for virtual asset services within the scope of the NBG’s supervisory mandate.

Furthermore, this will serve as an additional mechanism to simplify the verification of the legitimacy of the activities of entities providing virtual asset services.

It is noteworthy that the NBG regularly identifies individuals who provide virtual asset services within the territory of Georgia, including in Free Industrial Zones, without registration as a Virtual Asset Service Provider, thereby misleading consumers. In this regard, the NBG issued a statement in October of this year, calling on citizens not to use the virtual asset services of unregistered entities.

The amendment to the regulation will enter into force on January 1, 2026.