Decision on Curse's status: How will the government's ruling impact the token market?
The Council of Ministers in Belarus has sanctioned a new process for calculating token prices, set to take effect at the end of August, following a three-month period after its official publication.
In accordance with this government decree, operators are required to supply the secretariat of the Supervisory Board of the High Technologies Park with details about average token costs. This mandate applies to virtual asset transactions, such as token buying, selling, and exchanges where the operator is involved, as well as digital signs issued by Initial Coin Offering (ICO) organizers, within the trading system of cryptoplatforms.
It is noteworthy that legally operating cryptoplatforms in Belarus are recognized as residents of the High Technologies Park, as outlined in Decree No. 367 of September 17, 2024, "On the Circulation of Digital Signs (Tokens)". This decree stipulates that all transactions involving fiat money (deposit and withdrawal) must occur on such platforms.
Our sources suggest that this new regulation aims to redefine the rules for participants in the digital asset market. Sergey Logvinenko, an advisor to ZAO "White Bird", explains that the decree became necessary due to changes made to the Tax Code, enacted in 2025, regarding operations with digital signs (tokens).
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One of the new provisions in the amended Tax Code approves the procedure for determining the exchange rate of cryptocurrencies against the Belarusian ruble, which is crucial for calculating the taxable base of physical persons carrying out operations outside the High Technologies Park. Specifically, this includes applying the increased rate of 26% to illegal operations defined in Decree No. 367 and ensuring compliance for legal transactions, requiring tax declarations to be submitted no later than March of the following year to pay income tax at a rate of 13%.
For cryptoplatforms registered in the High Technologies Park, this decree does not affect their operations, as they already maintain records of all transactions, making it straightforward for them to submit data to the secretariat of the Supervisory Board of the HTP, which will subsequently be sent to the Ministry of Taxes and Levies. They must electronically submit data for each day no later than the 5th day of the following month.
The Council of Ministers' decree provides a formula for determining the average cost of tokens in Belarusian rubles. This remains unchanged for users of cryptoplatforms registered in the High-Tech Park. The recently introduced decree is essentially a result of the amendments made to the Tax Code. These changes took effect in 2025, exempting Belarusians conducting transactions through residents of the HTP from paying income tax.
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Source: Various sources
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- The Council of Ministers' decree, issued in 2025, requires operators in Belarus, especially those involved in the trading system of cryptoplatforms, to disclose the average token costs for their virtual asset transactions, including buying, selling, exchanges, and digital signs issued by Initial Coin Offering (ICO) organizers.
- As operators of legally operating cryptoplatforms in Belarus are recognized as residents of the High Technologies Park, this new regulation, which follows the amended Tax Code, streamlines the process for determining the exchange rate of cryptocurrencies against the Belarusian ruble, paving the way for a more streamlined calculation of the taxable base for physical persons conducting digital asset market operations outside the High Technologies Park.
