Share this article
Belarus Government Cuts Taxes For Crypto Businesses
The government of Belarus has passed new statutes aimed in part at encouraging the development of companies around cryptocurrency and blockchain.
By Wolfie Zhao
Updated Sep 13, 2021, 7:18 a.m. Published Dec 22, 2017, 11:00 p.m.
The government of Belarus has passed new statutes aimed in part at encouraging the development of companies around cryptocurrency and blockchain.
According to the state-owned media agency BelTA, on Dec. 22 Belarus President Alexander Lukashenko signed a digital economy development decree that legally enshrines the use of emerging technologies like blockchain, while also offering significant tax incentives in a bid to attract business activity.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The decree, as summarized by a local IT firm that advocated for the legislation, boosts development of the country's High-Tech Park, a special economic zone the government wants to serve as a hub for tech and financial startups.
One component of the law provides a legal basis for companies working on smart contract development, token issuance, cryptocurrency trading and mining – all of which would be exempt from income taxes for the next five years.
The law states:
"Turnovers, profits (income, proceeds) from various operations with tokens are not recognized as taxable items until January 2023."
in July, the country's central bank had already been considering avenues for domestic banks to incorporate blockchain as part of a transaction guarantee system.
In another report published today, central bank chief Pavel Kallaur noted the push for the High-Tech Park to serve as a place for cryptocurrency businesses to set up shop.
"As for cryptocurrencies, the Digital Economy Development Ordinance allows resident companies of the Hi-Tech Park to use cryptocurrencies for international deals. We are okay with that," he told BelTA.
Scissors image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BNB Lags Wider Market Despite Volume Surge Resistance Levels Hold
Despite uncertainty and a lack of breakout, BNB's fundamentals may be supportive, with recent developments support a bullish case.
What to know:
- BNB edged higher to top $890, gaining over 1%, but underperformed the wider crypto market which rose 2.5%.
- Trading volume surged 51% above the weekly average, suggesting possible whale participation, but BNB's price underperformance may indicate a rotation away from the token.
- Despite uncertainty and a lack of breakout, BNB's fundamentals may be supportive, with recent developments like Binance's ADGM approval and new infrastructure on BNB Chain, but traders remain cautious.
Top Stories
