National Bank to Consider Temporary Recusal of Kueinishvili

The National Bank of Georgia issued a statement regarding the launch of an investigation by the Prosecutor General's Office against Nana Keyinishvili, a member of the bank's council. According to the bank, during the investigation, until the truth on the matter is established, the council will consider the issue of Keyinishvili's temporary recusal at its nearest session.

According to the statement, the National Bank studied the circumstances named in the letters from representatives of BitexChange LLC and conducted a preliminary internal review within its competence. Since legal verification of the facts stated in the letter exceeds the mandate defined by the bank's legislation, the materials were transferred to the bodies with appropriate authority. The bank assumes that the objective truth regarding the circumstances will be established in a timely manner.

According to the bank, the council will consider the issue of Keyinishvili's temporary recusal from council sessions based on the high reputational standards of the bank's activities.

The bank also states that BitexChange LLC, a provider of virtual assets, was fined by the National Bank as a result of a scheduled inspection for violating the rules on preventing money laundering and terrorist financing.

The Prosecutor General's Office launched an investigation against Nana Keyinishvili under the article on unlawful participation of an official or a person equated to an official in entrepreneurial activity. According to the Prosecutor's Office, the investigation was launched based on statements by the managers of BitexChange LLC, forwarded from the National Bank.