When you hear VASP, a Virtual Asset Service Provider, which is any company that offers crypto trading, custody, or exchange services under government oversight. Also known as crypto service provider, it's the legal backbone for any business handling digital assets in countries with clear rules—like Georgia. Georgia stands out because it’s one of the few places where crypto businesses can operate with minimal red tape, low taxes, and a real path to licensing. Unlike places that ban crypto or make compliance impossible, Georgia invites VASPs to register, giving them legal protection and access to banking services.
This isn’t just about mining. While crypto mining in Georgia, a tax-free activity for individuals and businesses, with access to cheap hydropower and clear licensing through the Tbilisi Free Zone gets attention, VASP licensing is what lets companies operate legally at scale. You can’t run a crypto exchange or wallet service without registering as a VASP under Georgia’s 2020 Virtual Assets Law. The National Bank of Georgia oversees this, and compliance includes AML checks, KYC systems, and regular reporting. Many firms set up here because it’s faster and cheaper than doing the same in the EU or U.S., and it gives them credibility with international partners.
But it’s not all easy. A VASP license doesn’t mean you can ignore global rules. If you serve users in the U.S. or EU, you still need to follow FATF guidelines and local laws there. Georgia’s system works best for companies targeting emerging markets or those using it as a legal base while expanding elsewhere. You’ll also need to prove you have secure tech, trained staff, and real financial controls—not just a website and a server. The country doesn’t tolerate shell companies or anonymous operations. That’s why so many of the posts here focus on compliance: because in Georgia, the difference between a legitimate business and a scam is often just paperwork.
And if you’re thinking about crypto mining or launching a token, you’ll quickly realize that VASP rules tie into everything. Whether you’re building a DeFi app, running an exchange, or even doing an airdrop, if you’re touching money or assets in Georgia, you’re likely under VASP supervision. The posts below cover real cases—from how mining licenses work to why some crypto projects fail because they ignored compliance. You’ll find breakdowns of what’s legal, what’s risky, and what happens when you skip the steps. This isn’t theory. It’s what’s happening right now in Tbilisi, Batumi, and beyond.
Georgia offers one of the world's most favorable environments for crypto mining in 2025, with zero taxes for individuals, clear licensing rules for businesses, and cheap, clean hydropower. Learn how to stay compliant under the VASP and Tbilisi Free Zone frameworks.