Svmuu News: Natela Turnava, Governor of the National Bank of Georgia (NBG), recently signed an order formally establishing the legal framework for the issuance and circulation of fiat-pegged stablecoins in the country. The new regulations allow companies registered and licensed in Georgia to issue stablecoins, covering categories pegged to the Georgian lari, foreign currencies, or other assets. Issuers must register with the NBG as virtual asset service providers, ensure full 1:1 reserve coverage, and strictly segregate reserve assets from the company’s own assets. Regulatory requirements mandate that issuers maintain at least 500,000 lari (approximately $183,000) in regulatory capital, with this amount increasing to a maximum of 50 million lari as reserve levels grow. Additionally, if reserves exceed 15 million lari, issuers must establish a supervisory board and engage top-tier accounting firms—including the “Big Four”—to conduct quarterly audits. The new regulations also safeguard users’ redemption rights, requiring issuers to complete redemptions at face value within 3 to 5 business days. Georgia’s move draws on international regulatory experiences such as the U.S. GENIUS Act and the EU’s MiCA, aiming to enhance its compliance as a regional crypto hub. (Cryptopolitan)