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Brazil vs Georgia

Crypto regulation comparison

← Back to map | Brazil | Georgia
Brazil

Brazil

Georgia

Georgia

Legal
Legal

Brazil passed comprehensive crypto legislation (Law 14,478) in December 2022, which took effect in June 2023. The Banco Central do Brasil was designated as the primary regulator for crypto assets used as payment, while the CVM oversees crypto securities. Capital gains on crypto are taxed at 15-22.5%.

Georgia is one of the most crypto-friendly countries globally. There is no capital gains tax for individuals on cryptocurrency, and the country has a significant crypto mining industry due to low electricity costs. The National Bank has taken a cautious but permissive approach, issuing guidance rather than strict regulation.

Tax Type Capital gains
Tax Type No tax
Tax Rate 15-22.5%
Tax Rate 0% (individuals)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central do Brasil, CVM, Receita Federal
Regulator National Bank of Georgia (NBG)
Stablecoin Rules Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Stablecoin Rules No specific stablecoin regulation
Key Points
  • Law 14,478/2022 (Marco Legal das Criptomoedas) provides a comprehensive legal framework
  • Banco Central regulates VASPs; exchanges must obtain authorization to operate
  • Capital gains taxed at 15% (up to R$5M), 17.5% (R$5-10M), 20% (R$10-30M), 22.5% (above R$30M)
  • Monthly gains under R$35,000 from sales on domestic exchanges are exempt
  • Receita Federal requires detailed monthly reporting of crypto transactions via IN1888
Key Points
  • No capital gains tax on crypto for individuals
  • Businesses dealing in crypto are taxed under standard corporate tax rules (15% CIT)
  • Georgia is a major crypto mining hub due to cheap hydroelectric power
  • NBG does not recognize crypto as legal tender but has not prohibited it
  • The Free Industrial Zone offers additional tax advantages for crypto businesses
Sources
Sources