title: US-GA — Stablecoins & Digital Money (W2) | World Payments Monitor canonical: https://payments.gi/jurisdictions/united-states-georgia/w2/ ### W2 Stablecoins & Digital Money 1 judgment Confirmed re-verified 2026-10-18 · changed 2026-07-05 Georgia has no standalone stablecoin/digital-asset statute; virtual currency money transmission is folded into the general MTL regime under O.C.G.A. § 7-1-690, which directs DBF to enact virtual-currency-specific rules balancing innovation and consumer protection. DBF actively enforces against unlicensed virtual-currency operators, most recently a January 2026 cease-and-desist against a virtual-currency kiosk operator. Key judgment — Probable · impact Georgia DBF is actively enforcing its money-transmitter perimeter against unlicensed virtual-currency kiosk and exchange operators (Coinme, Polar Tensor US), while simultaneously building out a dedicated prudential stablecoin-issuer regime (HB 1272) not yet in force -- the state is moving toward a bifurcated structure of active general-MTL enforcement plus a forthcoming specialised licensing track._claims: wpm-2026-W42-001, wpm-2026-W42-002, wpm-2026-W42-003_ Rules for e-money institutions and payment institutions · from [Cryptoassets.gi](https://cryptoassets.gi) · verified 2026-10-18 - ** HB 1272 / Act 452, licensing provisions** — A person must hold a DBF-issued license to issue payment stablecoins in Georgia; unlicensed issuance is prohibited. _(commenced future; in force 2027-01-18)_ [source, 2026-05-15](https://infobytes.orrick.com/2026-05-15/georgia-enacts-state-licensing-regime-for-payment-stablecoin-issuers/) - ** O.C.G.A. § 7-11-17** — A licensed stablecoin issuer must maintain 1:1 reserves in eligible assets, publish monthly certified reserve compositions, and hold reserves in statutory trust without pledging or rehypothecating them except narrowly. _(commenced future; in force 2027-01-18)_ [source, 2026-06-11](https://www.eversheds-sutherland.com/en/united-states/insights/georgia-charts-a-course-on-stablecoin-licensing-what-it-means-for-payments-companies) _ Not yet covered by Cryptoassets.gi for this jurisdiction: how a fiat-referenced token is classified (e-money, stablecoin, e-money token or asset-referenced token) and the tests that decide it; systemic stablecoin regimes: recognition, backing-asset rules and the joint central bank and conduct regulator regime; cross-border market access for stablecoin and e-money activity between neighbouring regimes and its expiry; what an EMI or PI needs in addition to its licence to offer crypto conversion or stablecoin services, including payment-services treatment of token transfers._ Horizon · 2027-01-18 Speculative Georgia Payment Stablecoin Act effective date_Proposed_ Standing sub-brief · as of 7 July 2026 136 words · last cycle 2026-07-05 #### Stablecoins & Digital Money Georgia has no standalone stablecoin or digital-asset statute; virtual-currency money transmission is folded into the general licensing regime under O.C.G.A. §7-1-690, which directs DBF to enact virtual-currency-specific rules, and the statutory definition of "virtual currency" expressly excludes closed-loop affinity or rewards points. DBF has continued to enforce this framework against unlicensed operators: its Cease-and-Desist Order against Virtual Assets LLC, doing business as Crypto Dispensers, became final on January 16, 2026, for operating an unlicensed online virtual-currency trading platform in violation of O.C.G.A. §7-1-681. #### Outlook Absent a dedicated crypto-asset licence, Georgia's approach channels virtual-currency activity — and virtual-currency enforcement — through the same money-transmission statute as fiat transfers. The Crypto Dispensers action signals DBF is willing to use that channel actively against unlicensed platforms rather than treat digital-asset activity as outside its remit. no periodic updates on record for this sub-brief ** Sources and findings (4 unique sources · R-3/R-4)** 1. [W2-E1] T1 Derived: Confirmed [in_force https://codes.findlaw.com/ga/title-7-banking-and-finance/ga-code-sect-7-1-690.html](https://codes.findlaw.com/ga/title-7-banking-and-finance/ga-code-sect-7-1-690.html) re-verified 2026-07-05 O.C.G.A. § 7-1-690 authorizes DBF to enact rules solely for persons engaged in money transmission or payment-instrument sale involving virtual currency, aimed at fostering growth, ensuring solvency/soundness, protecting customers from insolvent providers, and eliminating fraud in the industry. 2. [W2-E2] T1 Derived: Confirmed [in_force https://law.justia.com/codes/georgia/2022/title-7/chapter-1/article-4/section-7-1-680/](https://law.justia.com/codes/georgia/2022/title-7/chapter-1/article-4/section-7-1-680/) re-verified 2026-07-05 'Virtual currency' is defined in O.C.G.A. § 7-1-680 as a digital representation of monetary value lacking legal tender status, expressly excluding software/protocols, closed-loop affinity/rewards points, and card-tied rewards redeemable for dollar-denominated credit. 3. [W2-E3] T1 Derived: Confirmed [in_force https://dbf.georgia.gov/money-transmission](https://dbf.georgia.gov/money-transmission) re-verified 2026-07-05 DBF states that the money transmission definitions include some forms of virtual currency transactions, so some virtual currency service providers must be licensed with the Department to serve Georgia consumers — there is no separate 'crypto license' outside the MTL framework. 4. [W2-E4] T1 Derived: Confirmed [in_force https://dbf.georgia.gov/press-releases/2026-01-16/order-cease-and-desist-issued-virtual-assets-llc-dba-crypto-dispensers](https://dbf.georgia.gov/press-releases/2026-01-16/order-cease-and-desist-issued-virtual-assets-llc-dba-crypto-dispensers) re-verified 2026-07-05 On January 16, 2026, a DBF Cease-and-Desist Order against Virtual Assets LLC dba Crypto Dispensers became final, for operating an online virtual currency trading platform in Georgia without a valid license or exemption, in violation of O.C.G.A. § 7-1-681.