July 13, 2024

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Belarus tech innovation zone may well acquire on regulatory role for crypto business

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The Belarusian federal government has proposed to appoint the High Technologies Park Administration as a supervisory authority for community crypto exchanges and digital tokens, 1st Deputy Prime Minister Nikolai Snopkov announced on Tuesday. 

“The authorities has proposed to make the Administration of the Hello-Tech Park a supervisory physique for crypto-exchanges and digital tokens. The President supported the government’s concept. I believe that this kind of a decision will be produced shortly,” Snopkov mentioned.

According to Snopkov, the governing administration is currently trying to decide on an appropriate govt agency to supervise community crypto platforms in line with pan-European regulations. 

Snopkov explained, “It is sensible that the HTP Administration is the most proficient, with the greatest know-how in this discipline.”

“I am guaranteed that the HTP Administration will come up with means to harness digital engineering to advertise the advancement of the country in the global community of crypto-exchanges and electronic token,” Snopkov included.

Belarus HTP is a special tax and lawful regime for IT enterprises in Belarus that aims to support expand the technology sector in the place. In accordance to formal state information, Belarus HTP is a territory inside Belarus that is not viewed as a totally free or unique economic zone but somewhat a jurisdiction furnishing some lawful advantages and tax exemptions to its residents. The HTP Administration is a authorized establishment dependable for running the HTP’s functions.

As previously reported by Cointelegraph, Belarus HTP has been actively concerned in things to do around crypto market regulation. In 2018, a committee of the HTP issued a set of policies for the procedure of the crypto current market in the state, together with regulations related to first coin offerings.

The HTP did not promptly reply to Cointelegraph’s ask for for remark.

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