When performing Virtual Asset Related Transactions on Bank Accounts, please consider the following important information that is based on the law of Georgia as well as requirements from international correspondent banks:
TBC Bank services virtual asset service providers (VASPs) registered by the National Bank of Georgia only;
Individuals are not allowed to provide VA services;
VA related transactions can be performed on bank accounts for personal purposes only (unless performed by VASPs). Therefore, performing VA sale & purchase transactions upon instructions/in favour of a third party is prohibited;
A proof of source of funds (POSOF) must be provided for the transaction amount if required by the Bank;
When establishing business relations and during the entire period of service, the Bank may require VASPs, as well as other customers who are a party to VA transactions, to submit any document/any piece of information, including information/documents specific to one particular transaction;
When performing Virtual Asset Related Transactions on Bank Accounts, please consider the following important information that is based on the law of Georgia as well as requirements from international correspondent banks:
TBC Bank services virtual asset service providers (VASPs) registered by the National Bank of Georgia only;
Individuals are not allowed to provide VA services;
VA related transactions can be performed on bank accounts for personal purposes only (unless performed by VASPs). Therefore, performing VA sale & purchase transactions upon instructions/in favour of a third party is prohibited;
A proof of source of funds (POSOF) must be provided for the transaction amount if required by the Bank;
When establishing business relations and during the entire period of service, the Bank may require VASPs, as well as other customers who are a party to VA transactions, to submit any document/any piece of information, including information/documents specific to one particular transaction;
Please also note that international VA related transfers on Bank accounts are currently restricted.
Under the law and the Bank's internal policy, the Bank is entitled to terminate business relations with a customer, refuse service, restrict transactions and/or take other measures envisaged by the law and practiced internationally.
The full text of the Rule on "Virtual Asset Service Provider Registration at the National Bank of Georgia, Cancellation of the Registration and Regulation" approved by the President of the National Bank of Georgia's Order 94/04 is available here.
Thank you for your cooperation.
