Can you buy property in Georgia with cryptocurrency?
Not by paying the seller in crypto. Since 1 January 2023 the Organic Law on the National Bank of Georgia has prohibited payments with virtual assets, except in cases the National Bank sets that are needed to provide virtual asset services, and none of those cases covers paying for a flat. What works, and what most "crypto accepted" listings mean in practice, is converting the crypto into dollars or lari through a provider registered with the National Bank or through a bank, and then paying the price by bank transfer like any other buyer.
This page explains what the law says, why the "barter" route that some agencies promote has not been tested, how a crypto-funded purchase works safely, what banks will ask about the money, and how the gain is taxed. The checks that apply to every purchase are on our page on source of funds.
What the law says
- Not legal tender. Article 391 of the Organic Law on the National Bank states that a virtual asset is not legal tender in Georgia.
- Payments prohibited. Paragraph 2 of the same article prohibits making payments with virtual assets, except for cases set by a legal act of the National Bank that are necessary for providing virtual asset services. The rule was adopted on 9 September 2022 and has applied since 1 January 2023.
- The exceptions. The only exceptions we found are in the National Bank's registration rules of 13 June 2023 (Order No 94/04): a provider may take its fee in the same crypto, and on the customer's instruction may send the money from an exchange to a payment provider. Nothing allows a buyer to pay a seller of goods, services or property in crypto.
- Private exchanges. The National Bank's guidance says that exchanges between two people using only their own assets, with no third party arranging them, do not need registration. That concerns swapping crypto, not paying for a flat.
We found no penalty aimed at a private buyer or seller who pays or accepts crypto; the fines and criminal cases so far concern providers. The larger risk for a buyer is not a fine but a contract whose validity can be questioned later.
Is a flat-for-crypto swap a loophole?
Several agencies describe a crypto purchase as a legal exchange, or barter: instead of a sale for money, the parties swap the flat for crypto. The Civil Code does allow exchange contracts. Under Article 521 each party transfers ownership of property to the other and counts as the seller of what it gives, Article 522 allows part of the value to be paid in money, and Article 523 applies the rules on sales. Article 147 defines property broadly enough to include intangible assets.
The difficulty is Article 54, under which a transaction that breaks a rule or prohibition laid down by law is void. If a court treated a flat-for-crypto swap as a payment with virtual assets in another form, the prohibition in the National Bank law could make it void, and ownership passes only on registration in the Public Registry under Article 183. We found no court decision, no Public Registry guidance and no position of the Notary Chamber on such a contract, and none of the agencies that promote the route cite the payment ban.
To be added by the team: our lawyer to confirm whether the Public Registry will register an exchange of a flat for crypto, and our accountant to confirm how the seller's income from such an exchange would be valued for tax.
Four ways people fund a purchase with crypto
| Route | How it works | Main risk |
|---|---|---|
| Convert first, then pay | Sell the crypto through a registered provider or a bank app, receive dollars or lari in your own account, pay the price by transfer | Exchange-rate movement before you sell; the lowest legal risk |
| Broker pays the seller | You send crypto to a broker, which converts it and pays the developer's bank account; agencies quote 1% to 4% in fees and 4 to 12 weeks | Whether the broker is registered, and whose name appears on the payment |
| Crypto straight to the seller | The developer or owner receives crypto in its own wallet | Conflicts with the payment ban; the contract may be challenged |
| Cash-for-crypto desk | An unregistered office exchanges crypto for cash | Criminal cases against such desks in 2025 and 2026; no paper trail |
Only the first route leaves a clean record that a bank, notary or later buyer can follow from your wallet to the seller's account. The second can work if the broker is registered and the payment to the seller is documented as made on your behalf.
Who may convert crypto in Georgia
The National Bank keeps a public register of virtual asset service providers. The version dated 16 September 2026 lists 43 registered providers, 36 with head offices in Tbilisi and 7 in Batumi. Since 1 January 2026 every registered provider must display its registration act in each channel it uses, from offices and kiosks to websites and apps, so a missing act is a warning sign. In October 2025 the National Bank warned that it regularly finds firms offering these services without registration, including in free industrial zones, and that using them can lead to deception and financial loss.
Banks have entered the market too: TBC Bank added crypto trading to its mobile app in May 2026 with Bybit as partner, and Bank of Georgia offers more than 70 crypto assets in its app. In September 2026 the National Bank announced minimum capital of GEL 150,000 to GEL 500,000 for providers depending on the service, with existing providers given until 2027 to comply, and in March 2026 it set rules for issuing stablecoins.
What the bank and the notary will ask
Money that started as crypto faces the same source-of-funds checks as any other purchase money, plus questions about how the crypto was acquired. Registered providers must identify customers for single transactions above USD 1,000, EUR 1,000 or GEL 3,000 and keep records for 5 years. A Georgian bank receiving the proceeds will usually want to see where they came from; a published summary of TBC Bank's rules says it works only with registered providers and may ask for transaction documents. Prepare:
- Acquisition records. Exchange statements or invoices showing when and at what price you bought the crypto.
- Wallet history. Addresses and transaction hashes linking the purchase to the sale.
- Sale statement. The provider's statement of the conversion into dollars or lari.
- Tax evidence. Your home-country tax return or a note from your adviser, where the gain is taxed there.
- Account trail. A transfer from the provider to an account in your own name, then to the seller.
Enforcement and sanctions
- Fines. In November 2025 the National Bank fined a crypto-to-cash provider, Sher888, GEL 465,000 for anti-money-laundering failures, and its registration was cancelled in March 2026.
- Criminal cases. In October 2025 five Russian nationals were detained over an unregistered exchange that bought crypto for cash, on money-laundering charges, and in August 2026 the manager of another unregistered provider was arrested over tens of millions of dollars in transactions.
- Sanctions. The EU's 21st sanctions package in July 2026 targeted crypto providers including firms incorporated in Georgia; the National Bank said none of them was registered with it. The UK sanctioned three Georgia-registered exchanges in May 2026, and the US Treasury designated a Georgia-based exchange, Shelbit, in August 2026.
- Standing. In December 2024 MONEYVAL raised Georgia's rating on the international standard for virtual assets from partially to largely compliant.
For a buyer the lesson is practical: money that passed through a sanctioned or unregistered exchange can be frozen or refused by a bank, even if the buyer did nothing wrong.
How the crypto and the property are taxed
A public decision of the Minister of Finance, No 201 of 28 June 2019, treats an individual's income from selling crypto as income without a Georgian source, and therefore exempt from income tax in Georgia, and exempts the exchange of crypto for money from VAT. Practitioners such as Andersen read it in 2026 as applying to residents and non-residents alike. That does not settle tax in your own country, which may tax the gain when you convert.
The flat is a separate matter. A seller who receives the price in any form has income from selling property, not from selling crypto. Under the Tax Code a gain on selling a residential flat is taxed at 5%, and it is exempt if the seller owned the flat for more than two years. Mining is treated differently: income from mining is Georgian-source and taxed as ordinary income.
Claims to treat with caution
| Claim | What we found |
|---|---|
| "Crypto is not regulated in Georgia" | Regulated by the National Bank since 2023; 43 registered providers in September 2026 |
| "Paying in crypto is legal barter" | Not tested in court or by the Registry; the payment ban is not mentioned in such claims |
| "0% tax on crypto only for tax residents" | The 2019 decision rests on the source of income, not on residence |
| "The agency holds the money safely until registration" | We found no bank or notary escrow for crypto payments |
| "This developer accepts BTC and USDT" | Listings rarely say whether a registered provider converts the crypto before the developer is paid |
A crypto-funded purchase, step by step
Check the provider
Find it in the National Bank register and ask to see its registration act.
Collect the records
Gather acquisition, wallet and sale records before you convert.
Convert into your own account
Receive dollars or lari in an account in your name.
Sign a normal contract
State the price in money, as in any purchase, with the payment account named.
Pay by transfer and register
Pay the seller by bank transfer and register the ownership in the Public Registry.
Risks and exceptions
- Void contract. A payment in crypto may conflict with the National Bank law.
- Frozen money. Funds from unregistered or sanctioned exchanges can be blocked.
- Price swings. Crypto can lose value between agreement and payment.
- Weak paper trail. Without records, banks can refuse the money.
- Home-country tax. Converting may trigger tax where you live.
Frequently asked questions
Can I pay for an apartment in Georgia with bitcoin?
Not directly; payments with virtual assets are prohibited, so convert to money through a registered provider first.
Is cryptocurrency legal in Georgia?
Yes, owning and exchanging it is legal, and providers must register with the National Bank.
Is a flat-for-crypto exchange contract valid?
It has not been tested; a court could treat it as a prohibited payment.
How many crypto providers are registered?
43 in the National Bank register dated 16 September 2026.
Is crypto income taxed in Georgia?
An individual's income from selling crypto is exempt under a 2019 ministerial decision; your home country may tax it.
Will a Georgian bank accept money from crypto?
It may, with documents showing how the crypto was acquired and sold through a registered provider.
Can I use a crypto ATM or exchange office?
Only a registered provider; unregistered cash desks have faced criminal cases.
Does the Public Registry record a price in crypto?
We found no guidance; contracts that state the price in money avoid the question.
Sources
- Law No 1790 amending the Organic Law on the National Bank of Georgia (Article 391), Legislative Herald of Georgia (accessed 19 October 2026)
- Frequently asked questions on virtual assets, National Bank of Georgia (accessed 19 October 2026)
- Register of virtual asset service providers, National Bank of Georgia, file dated 16 September 2026 (accessed 19 October 2026)
- Warning on unregistered virtual asset service providers, National Bank of Georgia, 7 October 2025 (accessed 19 October 2026)
- Amendment to the registration rules for virtual asset service providers, National Bank of Georgia, 27 November 2025 (accessed 19 October 2026)
- Expanded supervisory framework for virtual asset service providers, National Bank of Georgia, 8 September 2026 (accessed 19 October 2026)
- National Bank rules on stablecoin issuance, Interfax, March 2026 (accessed 19 October 2026)
- Civil Code of Georgia, Legislative Herald of Georgia (accessed 19 October 2026)
- Public decision No 201 on the taxation of crypto assets, Minister of Finance of Georgia, 28 June 2019 (accessed 19 October 2026)
- Taxation of crypto assets for individuals, Andersen Georgia, March 2026 (accessed 19 October 2026)
- Virtual asset services in Georgia, Andersen Georgia (accessed 19 October 2026)
- National Bank fines crypto firm Sher888 GEL 465,000, Georgia Today, 7 November 2025 (accessed 19 October 2026)
- Five Russian nationals arrested for money laundering, Georgia Today, 16 October 2025 (accessed 19 October 2026)
- Crypto company manager arrested, Georgia Today, 12 August 2026 (accessed 19 October 2026)
- Statement on the EU's 21st sanctions package, National Bank of Georgia, 24 July 2026 (accessed 19 October 2026)
- UK sanctions three Georgian companies, OC Media, May 2026 (accessed 19 October 2026)
- Treasury designates Shelbit exchange, US Department of the Treasury, 7 August 2026 (accessed 19 October 2026)
- MONEYVAL assessment of virtual asset measures, National Bank of Georgia, 12 December 2024 (accessed 19 October 2026)
- Crypto trading in TBC mobile banking, Georgia Today, 9 May 2026 (accessed 19 October 2026)
- Cashing out crypto in Georgia, ChangeNOW, 13 August 2026 (accessed 19 October 2026)
- Real estate with crypto in Georgia (agency description), ExpatHub (accessed 19 October 2026)
Change log
- - Explainer published from the Organic Law on the National Bank, National Bank rules and register, the Civil Code, the 2019 tax decision and enforcement reports.