Denmark vs Georgia
Crypto regulation comparison
Denmark
Georgia
Legal
Legal
Cryptocurrency is legal in Denmark and regulated under EU frameworks including MiCA. Denmark has notably high tax rates on crypto gains, treated as personal income and taxed at rates up to 52%. The Danish Tax Council confirmed in 2018 that gains and losses on Bitcoin are taxable.
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
37-52%
Tax Rate
0% (individuals)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Regulator
National Bank of Georgia (NBG)
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Crypto gains taxed as personal income at 37-52% (among the highest in the world)
- Losses on crypto can be deducted against gains
- Finanstilsynet supervises crypto businesses under the Danish AML Act
- Denmark does not have its own crypto-specific legislation beyond EU frameworks
- Skattestyrelsen (tax authority) actively monitors crypto transactions and issues guidance
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