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Georgia vs Kazakhstan

Crypto regulation comparison

← Back to map | Georgia | Kazakhstan
Georgia

Georgia

Kazakhstan

Kazakhstan

Legal
Legal

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.

Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.

Tax Type No tax
Tax Type Capital gains
Tax Rate 0% (individuals)
Tax Rate 10%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator National Bank of Georgia (NBG)
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
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
  • AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
  • Mining is legal and licensed, with a specific tax on electricity consumption for miners
  • Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
  • 2022 mining crackdown introduced stricter licensing and energy consumption taxes
  • Outside AIFC, domestic crypto payments and exchanges face greater restrictions
Sources
Sources