Georgia crypto license 2026 — NBG VASP registration
Georgia is a non-EU jurisdiction where a crypto licence means registering as a Virtual Asset Service Provider with the National Bank of Georgia, mandatory since 2023, often paired with a Free Industrial Zone setup for tax efficiency. It grants a clean local regime, not an EU MiCA passport.
What a crypto licence in Georgia actually is
For most of the last decade, Georgia was the place crypto businesses went to avoid licensing — cheap power for mining, low taxes, and no virtual-asset-specific regulation. That era is over. In 2023 the National Bank of Georgia introduced mandatory registration for Virtual Asset Service Providers, covering exchange, transfer, custody, administration, and related activity carried on from Georgia.
So a crypto licence in Georgia today means two things in practice — NBG VASP registration, the actual authorisation, and, optionally, a Free Industrial Zone setup for tax efficiency. They are different instruments doing different jobs, and one never substitutes for the other. The reputation lingers in old guides; the rules have moved on.
NBG VASP registration and Free Industrial Zones
The National Bank of Georgia is the supervisor. Its VASP regime requires providers to register, satisfy fit-and-proper standards on ownership and management, and run an AML/CFT compliance programme under Georgian law. This is registration with substance, not a rubber stamp — the NBG expects a real local entity and genuine AML controls, and its expectations have risen as Georgia aligns with international AML standards.
Georgia's Free Industrial Zones — in Tbilisi, Kutaisi, and Poti — are special economic zones offering tax and customs advantages, popular with miners and some virtual-asset businesses. The distinction that trips people up: a FIZ gives you a tax and customs status, not a financial-services authorisation. Used correctly the two stack; used carelessly, operators end up optimised on tax and exposed on licensing.
Georgia versus an EU MiCA passport
Georgia became an EU candidate in December 2023. That is a meaningful political signal, and it explains some of the regulatory alignment under way, but it is not a market-access mechanism. Candidate status does not bring MiCA passporting — only EU or EEA membership does, and accession is years off and far from guaranteed.
So the comparison stays clean. A Georgia VASP registration gives you a credible, tax-efficient local regime for CIS and regional operations. A MiCA CASP authorisation gives you the EU single market. If your customers are EU residents, you need the latter, today, whatever Georgia's accession timeline looks like — Georgia is a complement to EU reach, not a substitute for it.
A crypto license in Georgia is registration as a Virtual Asset Service Provider with the National Bank of Georgia (NBG), required since 2023 for exchanges, custodians, transfer services, and related virtual-asset businesses operating from Georgia, paired with AML/CFT obligations under Georgian law and, optionally, a Free Industrial Zone setup for tax efficiency. It does not grant EU market access.
Fast facts
| Parameter | Value |
|---|---|
| Regulator | National Bank of Georgia (NBG) — VASP registration and AML supervision |
| Regime | Mandatory VASP registration in force since 2023 |
| Covered activities | Exchange, transfer, custody, administration, and related virtual-asset services |
| Free Industrial Zones | Tbilisi, Kutaisi, Poti — tax and customs status, used for tax-efficient crypto and mining setups |
| EU status | EU candidate since December 2023 — but not EU/EEA, so no MiCA passport |
| Best for | CIS and regional operators, mining, cost-efficient exchange and transfer businesses |
Top counsel for Georgia CASP work
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Frequently asked questions about Georgia CASP authorisation
Does Georgia require a crypto licence?
Yes, since 2023. Virtual Asset Service Providers must register with the National Bank of Georgia and meet AML obligations. The pre-2023 unlicensed period is over for businesses operating from Georgia.
What does NBG VASP registration cover?
Exchange, transfer, custody, administration, and related virtual-asset services. A provider registers with the National Bank of Georgia, satisfies fit-and-proper and AML conditions, and comes under ongoing supervision.
Does a Georgia crypto licence give EU access?
No. Georgia is an EU candidate but not an EU or EEA member, so there is no MiCA passport. Serving EU residents requires a separate CASP authorisation in an EU member state.
What are Georgia's Free Industrial Zones?
Special economic zones — Tbilisi, Kutaisi, Poti — offering tax and customs advantages. They have been popular for crypto mining and some virtual-asset businesses, but a FIZ is a tax status, not a financial-services authorisation, and does not replace NBG VASP registration where the activity requires it.
Pitfalls and nuances in Georgia
1 Assuming Georgia is still unlicensed
For years Georgia ran with no crypto-specific licensing, which built its reputation as a low-friction hub. That ended in 2023 when the National Bank of Georgia introduced mandatory VASP registration. Operating a virtual-asset business from Georgia now without registering is a regulatory problem, not a loophole. Guidance written before 2023 describes a regime that no longer exists.
2 Treating a Free Industrial Zone as a licence
A Free Industrial Zone is a tax and customs status, not a financial-services authorisation. Setting up in Tbilisi or Kutaisi FIZ can be tax-efficient, but it does not replace NBG VASP registration where the activity requires it. Operators sometimes conflate the two and end up tax-optimised but unregistered. They are separate steps.
3 Banking on EU access through the candidate status
Georgia received EU candidate status in December 2023, which is a political milestone, not a market-access mechanism. Candidate status does not bring MiCA passporting. EU accession, if it happens, is years away and uncertain. Operators selling to EU residents need a MiCA CASP authorisation now, regardless of Georgia's accession path.
Regulator and primary sources
The supervisor of CASP authorisations in Georgia is National Bank of Georgia (NBG). The legal basis is National Bank of Georgia VASP registration regime (in force since 2023); AML/CFT Law of Georgia. Visit nbg.gov.ge/en for the regulator's official guidance, application forms, and supervisory expectations.