VASP Licensing in Georgia: What You Need to Know About Crypto Regulation

When you hear VASP licensing, a regulatory framework that requires crypto businesses to register and comply with anti-money laundering rules. Also known as Virtual Asset Service Provider registration, it's the legal backbone for any exchange, wallet provider, or crypto service operating in Georgia. Unlike countries that ban crypto or make it a gray area, Georgia built a clear path for crypto companies to operate legally — and it’s working.

Georgia’s VASP regime doesn’t just require paperwork. It demands real compliance: identity checks, transaction monitoring, and reporting to the Financial Monitoring Service. This isn’t about stopping crypto — it’s about making it safe and transparent. Businesses that get licensed can bank locally, attract international clients, and avoid the risk of sudden crackdowns. For users, that means more reliable platforms with better protection. The rules apply to anyone offering custody, trading, or conversion services — whether you’re running a small exchange or a large DeFi platform. If you’re handling crypto on behalf of others in Georgia, you’re likely required to register.

What makes Georgia stand out? It doesn’t treat crypto like a threat. It treats it like a financial tool that needs rules, not bans. The process is fast, fees are reasonable, and the government actively promotes crypto innovation. That’s why companies from Europe and beyond are setting up shop in Tbilisi. But don’t think licensing is easy — failing to comply can mean fines, shutdowns, or even criminal charges. This isn’t a loophole. It’s a legal requirement with teeth.

Below, you’ll find real-world examples of how VASP rules affect crypto users and businesses — from exchanges that got licensed to those that got caught skipping the process. You’ll see how Georgia’s approach compares to other countries, and what it means for your own crypto activities if you’re operating there or planning to. No fluff. Just what matters.