Report contents
Europe · Emerging
Georgia
Crypto Livability Index 2025·data to 31 Dec 2025
Scoreboard
Five pillars, then the 22 sub-pillars scored 0 to 4. Empty sub-scores are held out of the total, not zeroed.
The number behind the rank
| Raw capability score | 60 / 84 |
| P2P liquidity bonus (tie-breaker) | +1 |
| Inflation 2.5% · unbanked 21% · remittances 11.9% GDP · capital controls 0 · sanctions 0 | CNI 0.147 |
| Need multiplier | ×0.721 |
| Livability score | 0.515 |
Raw 60/84 = 0.714 capability. Crypto-Necessity Index 0.15, from five components: inflation 2.5% (three-year average 2023 to 2025), unbanked 21% of adults, remittances 11.9% of GDP, capital-control intensity 0.00 (KAOPEN 2023), sanctions exposure 0. Need multiplier ×0.72. Livability score 0.515, rank #22 of 79.
Three findings
Individuals pay zero tax on crypto gains, the only top-band tax score in this European set
Georgia's territorial tax system treats individual crypto profits from foreign exchanges as foreign-sourced income and exempts them entirely, scoring a full 4 on tax where every EU member sits at 1 to 3. Combined with no capital controls and open banking from TBC Bank and Bank of Georgia, that gives Georgia a 16 of 20 regulation pillar, the strongest among the 24 countries.
One of only three countries Chainalysis flags for population-adjusted outperformance
Alongside Ukraine and Moldova, Georgia ranks at the top of the population-adjusted adoption index, driven by a post-2022 Russian relocation wave, an IT-contractor economy paid in crypto, and remittance fees of 7% to 10% that make stablecoins a real cost saving. Remittances run 11.9% of GDP, and the country fields 85 ATMs at 59 per million urban residents with roughly 200 merchants accepting crypto via Binance Pay and CityPay.
Capability and need are nearly matched, so Georgia barely moves
Georgia scores 60 of 84 in raw capability and carries a Crypto-Necessity Index of 0.15 from 21% unbanked and remittances at 11.9% of GDP. The ×0.72 need multiplier leaves it at rails #24 and livability #22, a slide of just 2 places. It is one of the few European countries where capability and necessity sit in genuine balance rather than pulling hard in opposite directions.
In one line
"Georgia is the rare European entry where the rails and the reasons line up. Zero tax, open banks and real cross-border need leave it ranked almost the same whether or not you price in necessity."
Watch in 2026
Trajectory 4/4, actively liberalising. The National Bank of Georgia's VASP (virtual asset service provider) law came into force in 2024 and it continued issuing licences and tightening FATF-aligned AML rules through 2025. A local stablecoin, TOL, redeems 1:1 against the lari, dollar and euro, the country retains 0% personal capital gains tax, and the NBG published a stablecoin issuance regulation in early 2026.