Patrick Tan: Georgia's Thoughtful Approach to Digital Asset Regulation Places the Country in a Favorable Position for Developing Financial Innovations
"Georgia is fortunate to be situated at the crossroads of East and West. This gives the country an incredible geographical advantage in terms of leveraging the capabilities of the global banking sector. Furthermore, Georgia has a strong and resilient banking sector, a stable currency, and a progressive, forward-looking National Bank that supports entrepreneurs and innovators in the country," stated Patrick Tan, General Counsel of the Singapore-based blockchain analytics company ChainArgos, during the Tbilisi Finance Summit 2026. Tan served as the moderator for the summit's panel discussion titled "VASP 2.0: Gaps and Opportunities".
According to Patrick Tan's assessment, Georgia is part of a strategic corridor connecting Europe and Asia, which creates significant potential for the country to attract capital, human resources, and investments, as well as to develop its financial and digital infrastructure.
"Georgia's strategic geographical location, resilient banking sector, and thoughtful approach to digital asset regulation allow the country to capitalize on significant opportunities in the international financial space," he noted.
The General Counsel of ChainArgos also highlighted Georgia's approach in developing the legislative framework for regulating Virtual Asset Service Providers (VASPs). In his assessment, the country managed to take into account the experiences of other nations and chose a consistent and thoughtful approach to digital asset regulation.
"We often see countries rushing to regulate digital assets, virtual assets, and stablecoins, but they do not always make the right decisions in the process. In Georgia's case, we saw a firm and deliberate initiative to ensure the process was managed correctly from the start, before rolling it out on a massive scale," he stated.
According to Patrick Tan, this approach also places Georgia in an advantageous position regarding the development of artificial intelligence and autonomous payments. He noted that as payments in the global network become increasingly digitized and autonomous, Georgia can become an active participant in these processes.
ChainArgos is a Singapore-based private company whose platform allows users to explore and track the movement of crypto assets across blockchain networks, analyze transactions, and identify suspicious financial flows.
