Overseas Crypto Funding Fuels Georgia Protests, Asserts Security Service

• Georgia’s State Security Service claims that overseas actors are using cryptocurrency to fund recent protests.
• The intelligence agency alleges that these actors are planning to disrupt traffic networks and government facilities.
• Protests have erupted over a controversial ‘foreign agents’ bill, threatening Georgia’s bid to join the European Union.

Georgia’s security service alleges that overseas crypto funding is fueling recent protests, raising questions about the role of digital assets in political unrest. This development could have significant implications for the country’s political landscape and its EU membership aspirations.

Crypto Fuels Protests, Claims Georgian Intelligence Agency

According to the State Security Service of Georgia (SSSG), a group of individuals based overseas is using cryptocurrency to fund and organize protests in the Georgian capital, Tbilisi. The agency alleges that these actors aim to cause destructive and violent incidents, including sabotaging traffic networks and barricading government institutions. The SSSG also claims that these individuals are using crypto to cover their tracks, highlighting the potential misuse of digital assets for illicit activities.

Foreign Agents Bill Sparks Outrage

Protests have erupted in Tbilisi over a controversial ‘foreign agents’ bill, with many citizens expressing their displeasure by waving EU flags. The proposed bill, which labels NGOs receiving over 20% of their funding from overseas as ‘foreign agents’, has drawn criticism for its resemblance to a similar Russian law. Critics argue that the bill could jeopardize Georgia’s bid to join the European Union, further fueling the protests.

EU Membership Aspirations at Risk

An article in The Spectator suggests that the passage of the ‘foreign agents’ bill could dash Georgia’s hopes of joining the EU. The country’s President, Salome Zourabichvili, has expressed her intention to veto the bill, but the parliament has the power to overrule her. The outcome of the vote could potentially lead to a revolution in Georgia, with government officials alleging that the protests are instigated by Western-backed groups seeking a revolution.

Conclusion

The allegations by Georgia’s security service highlight the potential misuse of crypto for illicit activities, raising questions about the need for stricter regulations. The ongoing protests and the controversial ‘foreign agents’ bill could have significant implications for Georgia’s political landscape and its aspirations to join the EU. As the situation unfolds, it will be crucial to monitor how these developments impact the country’s relationship with the EU and the role of crypto in political activities.