LLC Bitxchange, which prompted an investigation into alleged illegal business activities by National Bank of Georgia Board Member Nana Keinishvili, was registered in 2020 and specializes in cryptocurrency conversion. According to its website, the company operates 75 crypto ATMs across Georgia, allowing users to buy and sell cryptocurrency for Georgian lari.
According to the business registry, the company’s director and 100% owner is Davit Orjonikidze, a dual citizen of Georgia and the United Kingdom. Nino Kopilashvili is also listed as a director. In 2024, Bitxchange generated GEL 5.8 million in revenue and GEL 3.2 million in net profit.
According to the Prosecutor General’s Office, Bitxchange executives allege that Keinishvili is involved in business activities and controls a network of companies regulated by the National Bank, with ownership registered in the names of her family members and affiliated individuals. They also claim she attempted to acquire a stake in a regulated entity to expand her business interests. These allegations remain subject to investigation.
The National Bank has also stated that Bitxchange was fined following a routine inspection that identified violations of anti-money laundering and counter-terrorism financing rules. However, the decision has not yet been officially published on the regulator’s website, and the amount of the fine remains unknown.
