Georgia now allows companies to issue stablecoins backed by reserve assets.

PANews reported on March 12 that, according to Cryptopolitan, the Central Bank of Georgia has passed new regulations allowing companies registered and licensed in Georgia to issue stablecoins pegged to fiat currency, but these must be fully backed by reserve assets. Users can redeem the stablecoins at face value at any time, and issuers must meet capital requirements and undergo rigorous audits.

According to regulations, issuing institutions must register with the central bank and obtain written permission, with a minimum regulatory capital of 500,000 Georgian Lari (approximately US$183,000). Reserve assets exceeding 15 million Georgian Lari (approximately US$5.5 million) require quarterly audits by one of the "Big Four" accounting firms. Redemption requests under 300,000 Georgian Lari must be completed within three business days, while larger amounts must be completed within five business days. The new regulations cover stablecoins pegged to the Georgian Lari, foreign currencies, or other assets, requiring 100% reserve coverage and a clear separation of assets from the issuer's own assets.