Overview

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The only legal currency for transactions in Georgia has always been and remains the Georgian Lari. However, n ow the law directly indicates a provision specifically banning Virtual Assets Before Janu, anyone could carry out crypto activities (exchange, storage, initial offering, etc.) in Georgia without the need for a separate license: No legal framework existed Cryptocurrency is not recognised as a legal tender in Georgia, but its use and transactions with it are not prohibited. This means that cryptocurrency can be used as an A central feature of Georgia’s 2025 cryptocurrency legislation is the implementation of a robust licensing regime for cryptocurrency exchanges and digital asset Georgia has joined the crypto bandwagon, with Koba Gvenetadze, the Governor of the National Bank of Georgia [NBG], revealing the country’s crypto vision. During Starting Janu, Georgia’s new crypto regulation has clarified the legal landscape for virtual assets. The regulation defines virtual assets as digital forms of value

Will Bitcoin Attain Legal Stature in Georgia? Understanding Georgia's Crypto Regulations

Is Bitcoin poised to become legal tender in Georgia? The question of whether Bitcoin will attain a legal stature in Georgia is complex and requires careful consideration of the evolving regulatory landscape. While Georgia has embraced cryptocurrency in many ways, full legal recognition is still under development. This article examines the current status of Bitcoin and other virtual assets within Georgia's legal framework.

Georgia's Current Stance on Cryptocurrency

Currently, cryptocurrency is not recognised as a legal tender in Georgia, but its use and transactions with it are not prohibited. This means that cryptocurrency can be used as an alternative means of exchange, though the

The 2025 Cryptocurrency Legislation: A Turning Point?

A central feature of Georgia’s 2025 cryptocurrency legislation is the implementation of a robust licensing regime for cryptocurrency exchanges and digital asset service providers. This indicates a move towards greater regulation and oversight of the crypto market, but not necessarily legal tender status for Bitcoin.

Past Landscape: Before the New Regulations

Before January, anyone could carry out crypto activities (exchange, storage, initial offering, etc.) in Georgia without the need for a separate license: No legal framework existed. This relatively unregulated environment has changed with the introduction of stricter regulations, aiming to protect investors and prevent illicit activities.

Georgia's Crypto Vision

Georgia has joined the crypto bandwagon, with Koba Gvenetadze, the Governor of the National Bank of Georgia [NBG], revealing the country’s crypto vision. During his address, Gvenetadze likely outlined strategies for integrating cryptocurrency into the financial system, although not necessarily pushing for Bitcoin to become legal tender.

Key Takeaways

  • Bitcoin is not currently legal tender in Georgia.
  • Transactions with cryptocurrency are not prohibited.
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  • Georgia’s 2025 legislation introduces licensing for crypto exchanges.

Conclusion

While Georgia has taken significant steps in regulating and recognizing the existence of cryptocurrency, the path to Bitcoin attaining legal stature remains uncertain. The introduction of licensing regimes and the clarification of virtual asset definitions demonstrate a commitment to regulating the crypto market. Whether this will eventually lead to Bitcoin being recognized as legal tender in Georgia is a question that only time will answer.

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