According to CoinMeta, and as reported by Civil Georgia, the Georgian Ministry of Finance's Investigation Bureau announced the arrest of the person in charge of an unregistered virtual asset service provider. The investigation alleges that the suspect conducted virtual asset transactions worth tens of millions of dollars without completing the mandatory registration with the Georgian National Bank, including exchanges between virtual assets and cash, and is suspected of facilitating unregulated cross-border capital flows through these activities. Law enforcement authorities seized approximately $83,900 in cash, 300 euros, and cryptocurrencies valued at around $79,600. They also stated that they are investigating other individuals involved, as well as potential tax evasion and money laundering activities. The suspect may face imprisonment of 3 to 5 years.