Georgia vs Iran
Crypto regulation comparison
Georgia
Iran
Legal
Restricted
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.
Iran has a complex stance on cryptocurrency. Crypto mining is legal and licensed by the Ministry of Industry, but using crypto for domestic payments is banned by the CBI. The government has explored using crypto for international trade to circumvent sanctions. Mining operations are periodically shut down during energy shortages.
Tax Type
No tax
Tax Type
Unclear
Tax Rate
0% (individuals)
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
National Bank of Georgia (NBG)
Regulator
CBI (Central Bank of Iran), Ministry of Industry
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Not applicable; crypto payments and trading domestically restricted
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
Key Points
- Crypto mining is legal and licensed by the Ministry of Industry, Mine and Trade
- CBI bans using crypto as a domestic payment method
- Licensed miners must sell mined crypto to the CBI or authorized exporters
- Government has explored crypto for sanctions evasion in international trade
- Mining farms periodically shut down during summer/winter energy demand peaks