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Georgia vs El Salvador

Crypto regulation comparison

← Back to map | Georgia | El Salvador
Georgia

Georgia

El Salvador

El Salvador

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.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type No tax
Tax Type No tax
Tax Rate 0% (individuals)
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator National Bank of Georgia (NBG)
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources