Georgia’s Government Backs a Controversial Crypto Push

Tether, the world's largest stablecoin issuer, has announced a major investment in Georgia and plans to launch GEL? , a digital token pegged one-to-one to the Georgian lari, a currency used only within the country of 3. 7 million.

The move signals growing crypto ambitions in the South Caucasus, but also raises concerns about transparency, as it comes with full backing from the authoritarian-leaning Georgian government.