Georgia Protests Allegedly Supported by Foreign Cryptocurrency, According to Security Service

Georgia’s security service has asserted that foreign entities are utilizing cryptocurrency to finance a series of protests that have polarized the nation.

Recently, thousands have gathered in the capital, Tbilisi, while smaller demonstrations have also occurred in Zugdidi, Kutaisi, and Gori.

According to the State Security Service of Georgia (SSSG), the individuals orchestrating the protests are accessing “funds from abroad.”

Furthermore, the SSSG alleged that protest leaders are employing cryptocurrency to “conceal their activities.”

Georgia Protests Are ‘Crypto Funded,’ Says Intelligence Agency

The SSSG serves as Georgia’s national intelligence agency. As reported by the Georgian media outlet Ambebi, the SSSG indicated that “a group of individuals” located overseas is “planning and coordinating demonstrations in the Georgian capital.”

The agency claimed that these individuals aim to instigate “destructive and violent incidents.” Additionally, the SSSG stated:

“Citizens of Georgia residing abroad – particularly a specific group of Georgians involved in the conflict in Ukraine – are participating in criminal schemes.”

The agency accused these foreign “agents” of conspiring to disrupt Tbilisi’s transportation systems.

The agency further stated that these agents intend to obstruct access to roads surrounding government buildings and critical infrastructure.

It asserted that these same individuals plan to impede railway systems and “establish encampments” near law enforcement agencies. The SSSG elaborated:

“[The orchestrators] are receiving funds from abroad. They are frequently using cryptocurrency to conceal their activities.”

The SSSG believes that “foreign instructors” arrived in Georgia “at the end of April of this year” to conduct “training sessions related to cryptocurrency transactions.”

It mentioned that “the organizers” of the protests “received guidance on how to discreetly obtain funding” for their “radical actions.”

Georgia’s parliament approved the second reading of a bill on ‘foreign agents’ that has been criticized as Kremlin-inspired, as police fired tear gas and stun grenades to clear a large crowd of protesters opposed to the draft law https://t.co/q5tbKoPNNQ

— Reuters (@Reuters) May 2, 2024

Bill Sparks Fury in Georgia

Protests have erupted in Tbilisi recently, with many citizens expressing their discontent regarding a proposed “foreign agents” bill.

Numerous demonstrators have taken to the streets waving EU flags, seemingly worried that their country’s aspirations to join the European Union may be jeopardized.

The Georgian parliament is set to vote on a bill that seeks to classify all political and civil society NGOs receiving over 20% of their funding from abroad as “foreign agents.”

Critics argue that the bill mirrors a Russian law aimed at identifying “foreign agents.” Moscow lawmakers have accused Western-supported “foreign agents” of utilizing foreign cryptocurrency to finance their operations in Russia.

Vetoed the ‘offshore’ law and will continue to veto any legislation that contradicts Georgia’s European and Euro-Atlantic aspirations.

Georgia’s identity is European, unshakeable despite any attempts to distort it

— Salome Zourabichvili (@Zourabichvili_S) May 3, 2024

EU Membership Plans in Jeopardy?

An article in the British magazine The Spectator stated:

“Such a law would [..] dash any hope of Georgia joining the EU. This week, in reaction to the government’s heavy-handed attempts to disperse the protestors, more than 30 members of the European Parliament called on Brussels to withdraw Georgia’s EU membership candidate status.”

The bill has turned into a contentious issue in Georgia, where President Salome Zourabichvili has expressed her intention to veto it.

However, the parliament has the authority to override a veto from Zourabichvili.

Western media commentators have suggested that the outcome of the vote could “mean revolution” for Georgia.

Government officials have claimed that the protestors are incited by Western-supported groups seeking a “revolution.”

The SSSG stated that the protesters aim to incite violence and “provoke law enforcement agencies.”

The agency cautioned about the potential for “panic, stampedes, serious injuries, and casualties” if the demonstrations persist.

Cryptocurrency remains widely embraced in Georgia, as does crypto mining. In 2018, the country began exploring initiatives to implement blockchain technology in governmental operations.

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