A Virtual Asset Service Provider (VASP) is a person who provides virtual asset service for the benefit of another person.
The following activities are considered to be virtual asset services:
- Exchange (including via kiosks) between convertible virtual asset and fiat currencies (national or foreign), between one or more forms of virtual assets, between convertible virtual asset and financial instrument;
- Transfer of convertible virtual asset;
- Safekeeping and/or administration of convertible virtual asset or of the instrument enabling control over virtual asset;
- Portfolio management of convertible virtual assets (excluding collective portfolio management);
- Administration of the trading platform of the convertible virtual assets;
- Lending of convertible virtual asset;
- Initial Coin Offering of convertible virtual asset and/or service related to initial coin offering.
A virtual asset is a digital representation of value that is interchangeable and non-unique, can be digitally traded or transferred, and can be used for investments and/or payment purposes. A virtual asset does not include digital representation of fiat currencies, securities, or other financial instruments.
A convertible virtual asset is a virtual asset that has an equivalent value on the market, in national or foreign currency, in another virtual asset, and/or a financial instrument in which it can be exchanged.
Our Service includes:
- Preparation of the application for the submission to The National Bank of Georgia
- Preparation of documentation in accordance with the AML
- and preparation of other documents required by the legislation