Georgia vs Montenegro
Crypto regulation comparison
Georgia
Montenegro
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.
Montenegro has no specific crypto law but crypto is not prohibited. Working toward EU candidacy and potential MiCA alignment. Capital gains taxed under general provisions.
Tax Type
No tax
Tax Type
Capital gains
Tax Rate
0% (individuals)
Tax Rate
9-15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Georgia (NBG)
Regulator
Central Bank of Montenegro, Capital Market Authority
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin 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
- No specific cryptocurrency legislation but crypto is legal
- Working toward EU candidacy and MiCA alignment
- Capital gains on crypto taxed at 9-15%
- Central Bank has acknowledged crypto without banning it
- Growing interest in crypto-friendly policies