Georgia vs Lebanon
Crypto regulation comparison
Georgia
Lebanon
Legal
No Regulation
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.
Lebanon has no specific cryptocurrency legislation. The Banque du Liban issued a 2014 circular warning financial institutions against dealing with digital currencies, but crypto itself is not banned. Amid the severe economic crisis and banking collapse since 2019, crypto adoption has surged as citizens seek alternatives to the devalued Lebanese pound.
Tax Type
No tax
Tax Type
None
Tax Rate
0% (individuals)
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Georgia (NBG)
Regulator
BDL (Banque du Liban)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No regulation
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
- BDL Circular 318 (2014) warned banks against dealing in crypto but did not ban it outright
- No dedicated crypto regulatory framework or licensing regime
- Severe banking crisis and capital controls have driven crypto adoption
- Crypto used as a store of value and remittance channel during economic collapse
- No specific crypto taxation rules in place