Crypto in Georgia: 0% tax, crypto-friendly banks and grey zones
Georgia is one of the few legal crypto hubs with a clear set of rules. Trading here isn't merely "not prohibited" — there's a well-defined framework from the National Bank of Georgia (NBG). Since 2023, licensing for VASPs (virtual asset service providers) has been mandatory. That means any official exchange point in Tbilisi or Batumi is now accountable to the regulator.
What matters: The key piece of legislation is Ministry of Finance Decree No. 201. It exempts individuals from income tax on profits from selling crypto. The rate is 0%. But this applies only to personal investments. If you start pushing millions through a bank card every single day, the bank will treat it as commercial activity and require you to register a business.TBC vs BOG: which bank should a trader choose
Local users pick a bank based on the quality of its compliance, not the colour of its app. The market is split between two giants:
- Bank of Georgia (BOG). The most tech-forward. Its app offers direct GEL-to-USD exchange at a favourable rate. It takes a relaxed view of P2P transfers, as long as they don't look like "top-ups" from 100 different people a day.
- TBC Bank. The most popular for P2P. It carries 80% of the Georgian segment's liquidity on Bybit and Binance. The downside: strict monitoring of incoming funds. If a transfer arrives from a "dirty" merchant, the account is frozen pending clarification.
- Liberty Bank. A local taboo. The worst choice for crypto. It blocks accounts even over small transactions with exchanges.
Local tips: how not to lose money on fees
Experienced users in Georgia have long since developed strategies that save both time and percentage points:
OTC exchangers instead of cards. If you need to cash out more than 5,000 USD, nobody uses P2P. In the Vake or Saburtalo districts (Tbilisi) there are dozens of licensed crypto cash desks. You send USDT to their address and collect physical US dollars. The fee is often lower than what you'd lose to bank conversion (around 1% for a cash payout on average).
PayBox and top-ups. Orange and blue terminals stand on the streets. Through them you can load GEL directly onto your account with local exchanges like Cryptal or MyCoins. This is a "clean" way to bring in fiat that raises no questions with the tax authorities.
Buying with crypto. In Georgia you can legally buy a car or an apartment for bitcoin. The seller issues an invoice via CityPay.io, you pay in crypto, and the system credits the seller in GEL. This does away with the "Exchange — P2P — Bank" chain and the checks that come with it.
