The Central Bank of Georgia issues new regulations on stablecoin oversight, allowing domestic companies to issue reserve-backed stablecoins.

SmartContractAuditor · 2026-03-12T05:13:50+00:00

Odaily Planet Daily News: Natela Turnava, the Governor of the National Bank of Georgia (NBG), recently signed an order officially establishing the legal framework for the issuance and circulation of the country's fiat-backed stablecoins. The new regulation allows companies registered and licensed in Georgia to issue stablecoins, covering categories pegged to the Georgian Lari, foreign currencies, or other assets. Issuers must register with the NBG as virtual asset service providers and ensure a 1:1 full reserve, with reserve assets strictly separated from the company's own assets.Regulatory requirements stipulate that issuers have at least 500,000 Lari (approximately $183,000) in regulatory capital, which can be increased up to 50 million Lari as reserves grow. Additionally, if reserves exceed 15 million Lari, issuers must establish a supervisory board and hire top accounting firms, including the "Big Four," to conduct quarterly audits. The new regulation also ensures that

SmartContractAuditor

2026-03-12 05:13:50

Odaily Planet Daily News: The National Bank of Georgia (NBG) Governor Natela Turnava recently signed an order officially establishing the legal framework for the issuance and circulation of the country’s fiat-backed stablecoins. The new regulation allows companies registered and licensed in Georgia to issue stablecoins, including those pegged to the Georgian Lari, foreign currencies, or other assets. Issuers must register with the NBG as virtual asset service providers and maintain a 1:1 full reserve, with reserve assets strictly separated from the company’s own assets.

Regulatory requirements stipulate that issuers have at least 500,000 Lari (approximately $183,000) in regulatory capital, which can be increased up to 50 million Lari as reserves grow. Additionally, if reserves exceed 15 million Lari, issuers must establish a supervisory board and hire top accounting firms, including the “Big Four,” to conduct quarterly audits. The new regulation also safeguards users’ redemption rights, requiring issuers to redeem at face value within 3 to 5 business days. Georgia’s move draws on international regulatory experiences such as the US GENIUS Act and the EU’s MiCA, aiming to enhance its compliance as a regional crypto hub. (Cryptopolitan)

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