Bitcoin

The National Bank of Georgia (NBG) is <a href="https://www.interpressnews.ge/ru/article/152513-archil-mestvirishvili-natsbank-osushchestvliaet-monitoring-sobliudeniia-sanktsii/" rel="noopener noreferrer nofollow">reportedly</a> set to supervise virtual asset service providers (VASPs) starting from September 1, 2023. Georgia, majorly a crypto-friendly jurisdiction, is bracing to begin monitoring crypto entities to curb any money laundering instances whilst complying with applicable sanctions.Archil Mestvirishvili, the acting governor of the NBG, stated that the new regulatory regime would enable Georgia to fight money laundering, as reported on May 31 by the local news agency InterPressNews. In accordance with the Anti-Money Laundering measures, the forthcoming VASP examination would enhance Georgia’s compliance with the sanctions imposed against Russia and Belarus by the West.As per Mestvirishvili, NBG is the primary authority to supervise compliance with the relevant sanctions. The supervision got active in 2022 when the United States and the European Union (EU) pressed sanctions against Russia.Read full article at <a href="https://cryptotale.org/central-bank-of-georgia-to-supervise-crypto-firms-from-september-1-for-aml/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Central Bank of Georgia to Supervise Crypto Firms from September 1 for AML

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