Finance Ministry Takes Steps to Facilitate Crypto Investments in Belarus
Amendments aimed at luring investment funds to Belarus have been published by the Ministry of Finance for public consultations. Despite having in place a regulatory framework for collective investments, not a single fund has been registered in the country so far, the department noted in its motives for the initiative.

One of the main reasons for the absence of such funds is that they are currently prevented from investing in crypto assets, representatives of professional circles have pointed out. The market for “digital signs (tokens),” the legal term used to describe cryptocurrencies, has been growing at a fast pace, the finance ministry has acknowledged.

To lift the restrictions, the ministry has drafted a resolution amending its own decree on activities in the securities market pertaining to investment funds. It plans to allow the funds to simultaneously operate as securities dealers and residents of the Belarus High-Tech Park (HTP). The latter manages a special legal regime established to facilitate the country’s digital economy, including the crypto sector.

Belarus opened its doors to crypto businesses with a decree “On the development of the digital economy” which went into force in the spring of 2018. The document, signed by President Alexander Lukashenko, introduced tax breaks and other incentives for companies dealing with digital assets.