Crypto in Georgia: 2026 Market Overview
Regulation, global rankings, and proprietary data from crypto exchange Werty.
Updated October 5, 2026. Proprietary data provided by crypto exchange Werty.
Georgia is one of the most active crypto markets in the world relative to its population: according to Chainalysis data for 2025, it ranked third globally, behind Ukraine and Moldova. The market is also regulated: since 2023, exchanges and other virtual asset service providers have operated under the supervision of the National Bank of Georgia (NBG). This overview brings together the legal framework, public statistics, and anonymized data from crypto exchange Werty, a virtual asset service provider registered with the NBG.
Key takeaways
Buying, holding, and exchanging crypto in Georgia is legal, but crypto is not legal tender: you can’t pay with it for goods and services.
Companies that provide exchange and custody services must be registered with the NBG as VASPs. Registration has been required since July 1, 2023, and since December 2025 providers have been under full NBG supervision.
In March 2026, the NBG approved rules for issuing stablecoins. In May, Tether and the Georgian government announced GEL₮, a stablecoin pegged to the lari.
According to Werty data (July–October 2026), the median transaction is 1,400 USDT, and the vast majority of orders are under 10,000 USDT.
Is crypto legal in Georgia?
Yes. Individuals and companies can buy, hold, and exchange crypto assets. The restriction applies to payments: the national currency remains the only legal tender, and payments in virtual assets are prohibited, except in narrow cases defined by the NBG that are necessary to provide crypto services in the first place. As a result, a Georgian company generally can’t accept crypto as payment for goods or services, and anyone buying property or a car first converts their crypto to fiat.
Under the law, virtual asset services include exchanging crypto for fiat (including through kiosks), exchanging one virtual asset for another, custody and administration, operating a trading platform, and ICOs. Only registered providers (VASPs) may offer these services.
As for taxes, according to guidance from the Ministry of Finance, individuals’ income from crypto transactions is not subject to personal income tax in Georgia.
How the NBG regulated the crypto market in 2026
In December 2025, the NBG gained full prudential supervisory powers over VASPs: it can inspect providers on-site and remotely, set minimum supervisory capital, and establish standards for risk management, cybersecurity, and consumer protection.
Here are the key changes in 2026:
Transparency for customers. Since January 1, 2026, every registered VASP has been required to display its NBG registration certificate in its offices and kiosks, on its website, and in its apps. The rule followed cases in which the regulator found unregistered operators, including in free industrial zones.
Stablecoins. Order No. 52/04 was issued on March 6, 2026. A stablecoin may be issued only with the NBG’s prior written consent, after the issuer registers as a VASP, and with 100% reserve backing. The issuer’s minimum regulatory capital is GEL 500,000.
Anti-money laundering. In December 2024, MONEYVAL upgraded Georgia’s rating from “partially compliant” to “largely compliant” on two FATF Recommendations covering risk assessment and new technologies. Georgia remains under enhanced follow-up.
Where Georgia ranks globally
In the Global Crypto Adoption Index 2025 (covering July 2024 to June 2025 across 151 countries), Chainalysis found that Ukraine, Moldova, and Georgia led the world on a per-capita basis.
In September 2026, Chainalysis published the seventh edition using a new methodology that accounts for flows through services, domestic wallet-to-wallet transfers, cross-border transfers, and balances. The ranking covers 117 countries, with Brazil in first place and Ukraine in seventh. Georgia does not appear in the published top 20, and direct comparisons with previous years are limited by the change in methodology.
The global backdrop for the period (July 2025 – June 2026): crypto market capitalization fell by roughly 50%, yet on-chain activity declined by only 1.6%, to $9.4 trillion. Cross-border stablecoin transfers grew 77.5% to $220.3 billion, with an average payment of about $3,000.
What Werty data shows
Werty is a crypto exchange registered with the National Bank of Georgia, with offices in Tbilisi, Rustavi, and Batumi. We analyzed anonymized platform data for the period from June 27 to October 5, 2026.
How large are crypto transactions in Georgia?
The median transaction is 1,400 USDT: half of all orders fall between 530 and 4,000 USDT. Nine in ten orders are under 10,000 USDT, and the largest transaction exceeded 100,000 USDT.
Transaction size, USDT | Share of orders, % |
Under 500 | 21.6 |
500–1,000 | 16.6 |
1,000–3,000 | 30.4 |
3,000–10,000 | 20.6 |
10,000–20,000 | 6.5 |
20,000–30,000 | 2.2 |
Over 30,000 | 2.1 |
Source: anonymized Werty platform analytics
Commentary from Tamar Ratianidze, founder of LC HUB, on AML check thresholds for crypto exchange: “For transactions under USD or EUR 1,000, only an identity document is required, without a full KYC procedure. Under the Travel Rule, for transactions above EUR 1,000, the servicing VASP must verify that the wallet belongs to the customer.
It’s important to understand that each VASP sets its own verification thresholds in its internal policy. So documents may be requested even for smaller amounts if a transaction looks unusual for the customer. There is also an obligation to verify the source of funds in line with the risk level of the customer and the transaction. The higher the risk level of the customer and the transaction (the risk score from blockchain analytics screening), the lower the limit up to which the customer can transact without source-of-funds verification.
Keep documents that prove where your funds came from, don’t carry out transactions on behalf of or in the interests of another person, know who is sending you crypto assets, carry an identity document, and give the VASP complete and accurate information during KYC.”
Cash or bank transfer?
The median for selling crypto via bank transfer is 950 USDT, versus 1,828 USDT when receiving cash. Crypto sales make up a larger share of transactions than crypto purchases.
Direction | Median, USDT |
Crypto → cash | 1,828 |
Crypto → bank transfer | 950 |
Cash → crypto | 1,995 |
Bank transfer → crypto | 2,000 |
Bank transfer includes bank wires and card payments. Source: Werty platform data.
Which currencies?
More than half of all orders involve the US dollar, the lari accounts for a third, and the euro for 2%. The lari is more often chosen for smaller amounts: the median lari transaction is 729 USDT, compared with 2,000 USDT for dollar transactions.
Where do people exchange crypto most often?
Batumi and Rustavi trail Tbilisi in the number of orders but account for a disproportionately large share of volume. The median transaction in Rustavi is 4,222 USDT, three times the platform average.
Location | Share of orders, % | Median, USDT |
Tbilisi (cash) | 43.9 | 1,526 |
Batumi (cash) | 11.2 | 1,765 |
Rustavi (cash) | 7.4 | 4,222 |
Bank transfer | 37.4 | 1,000 |
Location is determined by the cash payout method code. Source: Werty platform data.
Commentary from Werty Director Mishel Ivanidze: “The share of large transactions is higher in Batumi because the city is a magnet for investment in Georgia. Batumi’s economy is growing on the back of its real estate market. That’s why many investors put their money into hard assets, and those funds often pass through crypto along the way.
Rustavi is a similar story, but its main economic engine isn’t apartments — it’s the city’s car market. Many people come to Rustavi to buy their dream car, and some of them keep their funds in crypto wallets.
While people in Tbilisi might exchange crypto for any number of reasons, in Batumi and Rustavi the purpose is more often tied to the city’s economic profile.”
What’s next for the market
Tighter supervision. Setting supervisory capital requirements and cybersecurity standards will be the main focus of VASP regulation.
A bigger role for stablecoins. The issuance rules in effect since March 2026 and the announced GEL₮ lay the groundwork for settlements in a lari-pegged stablecoin. Details of how it will work and the launch timeline have not yet been disclosed.
Verifiable operators. Mandatory display of NBG registration makes it easier for customers to choose a legitimate exchange.
FAQ
Is crypto legal in Georgia?
Yes, owning, buying, and exchanging crypto is legal. However, crypto is not legal tender, and you can’t use it to pay for goods and services.
Who regulates the crypto market in Georgia?
The National Bank of Georgia. It registers virtual asset service providers (VASPs) and has exercised full supervision over them since December 2025.
How can I check whether an exchange is legitimate?
Since January 1, 2026, registered VASPs must display their NBG registration certificate in their offices, on their website, and in their apps. The NBG also publishes the registry itself.
Can I buy property or a car with crypto?
Not directly: payments in virtual assets are prohibited in Georgia. Buyers first convert their crypto to fiat, either cash or a bank transfer.
What is GEL₮?
A stablecoin pegged to the Georgian lari, announced by Tether and the Georgian government in May 2026. Details of how it will work and the launch timeline will be disclosed later.
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