The National Bank of Georgia (NBG) says none of the cryptocurrency companies in Georgia targeted by the European Union’s latest sanctions are regulated by the central bank.
In a statement issued after the EU adopted its 21st package of sanctions against Russia, the NBG said three of the 14 sanctioned virtual asset entities — Eyafor LLC, Abxex LLC and Rapira Group LLC — are registered in Georgia.
However, the central bank stressed that none of the three companies is licensed or supervised by the National Bank.
“According to the information available to us, as a result of the investigation conducted by the relevant investigative service against the mentioned companies, the area of activity of none of the sanctioned companies was Georgia. Moreover, additional investigative actions have been initiated against them,” the statement reads.
The NBG said its regulatory framework imposes strict requirements for market entry and operation, describing it as “an important filter” against entities involved in illegal activities.
The central bank also said its regulatory framework for virtual asset service providers complies with the standards of the Financial Action Task Force (FATF) and international best practices. It cited the Council of Europe’s Moneyval assessment published in 2024, which rated Georgia as “largely compliant” with FATF Recommendation 15 on the regulation of virtual asset service providers.
The NBG noted that the United Kingdom and France received the same rating under the recommendation.
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