The OSCE held a two-day workshop on strengthening anti-money laundering and financial supervision in the crypto sector in Tbilisi, Georgia, on 17 and 18 February.
The workshop brought together representatives of the National Bank of Georgia (NBG) and international experts to discuss how to enhance Georgia's prudential and AML framework. Participants reviewed how other countries supervise crypto companies, including Virtual Assets Service Providers (VASP)s and crypto-asset service providers (CASPs).
Discussions focused on how to ensure crypto companies are financially stable, manage risks properly, report transparently, and protect customers' funds.
"Georgia, with the support of the OSCE, has already taken important steps by establishing an entity-based registration regime. The next step is to evolve toward an activity-based regulatory framework that addresses specific risks associated with different virtual asset services. The goal is not to restrict the development of virtual asset markets - but to ensure that they develop safely, responsibly, and in a way that supports the broader financial system and economy", highlighted Giorgi Goguadze, Head of the Payment Service Providers Support and Virtual Asset Service Providers Registration Department at the NBG.
OSCE experts delivered sessions on how different types of crypto services operate, including exchanges, custody services, staking, and stablecoins.
Case studies and lessons learned from international market events were examined to illustrate the importance of fund segregation, capital adequacy and supervisory resilience in safeguarding customers and maintaining financial stability.
The OSCE remains committed to combating money laundering and reinforcing resilient and transparent financial systems across the OSCE region.
The event was organized within the OSCE extra-budgetary project " Innovative policy solutions to mitigate money laundering risks of virtual assets ," implemented by the OSCE Office of the Co-ordinator of Economic and Environmental Activities (OCEEA) and funded by Germany, Italy, Poland, Romania, the United Kingdom, and the United States.
