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Bybit has received another VASP license, following approvals in other regions, including the Netherlands and Kazakhstan.
Crypto exchange Bybit has obtained a Virtual Asset Service Provider license from Georgia’s National Bank, marking another step in the company’s global compliance efforts.
In a <a href="https://www.globenewswire.com/news-release/2024/11/05/2974679/0/en/Bybit-Receives-Georgian-VASP-License-Strengthening-Global-Regulatory-Presence.html" target="_blank" rel="noopener noreferrer nofollow">press release</a> on Nov. 5, the exchange stated that its registration in Georgia allows it to operate within the country’s growing ecosystem, aligning with Bybit’s goal to support crypto economic development in new regions.
Bybit chief executive Ben Zhou noted that the registration highlights the exchange’s commitment to “providing users in Georgia with a secure and compliant platform, further contributing to the region’s ambition of becoming a hotbed for blockchain innovation.”
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bybit-reveals-over-940m-in-abnormal-withdrawals-during-h1-2024/"> Bybit reveals over $940m in abnormal withdrawals during H1 2024 </a>
<h2 class="wp-block-heading" id="georgia-bets-on-crypto">Georgia bets on crypto</h2>
Meanwhile, Georgia is gaining attention from the crypto sector. As previously reported by crypto.news, Ripple executives recently <a href="https://crypto.news/ripple-seeks-new-economy-digitization-venues-with-georgia/" target="_blank" rel="noopener noreferrer nofollow">held talks</a> with National Bank Governor Natia Turnava regarding the use of blockchain for economic digitalization.
While specific details of the talks remain undisclosed, a representative from the central bank confirmed that the focus was on “exploring potential avenues for collaboration in the digitalization of the Georgian economy.”
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/netherlands-seeks-public-feedback-on-crypto-tax-rules-report/"> Netherlands seeks public feedback on crypto tax rules: report </a>

Bybit expands compliance with VASP license in Georgia

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