Belarus legalised cryptocurrency back in 2017 — among the first countries in the world to do so. Since then, the legislation has been updated several times, and the picture in 2026 looks different from when the first rules were introduced. Crypto business in Belarus is a real option, but with clear rules: what’s allowed, what isn’t, and who you must work through.
Here’s how it actually works.
The foundational document is Presidential Decree No. 8 “On the Development of the Digital Economy” from 2017. This is what first legalised token (cryptocurrency) transactions, mining, ICOs and smart contracts in Belarus. In Belarusian law, cryptocurrency is referred to as “digital signs (tokens)” — worth knowing when dealing with official documents.
Since then the legislation has been significantly refined:
— Decree No. 367 of 2024 established the requirement that all purchases and sales of cryptocurrency for fiat money must be conducted exclusively through HTP residents — From January 2025, new Article 202-1 of the Tax Code came into force, governing personal income tax on token transactions — Decree No. 19 of January 2026 introduced the concept of “crypto banks” and expanded opportunities for certain market participants
Legal entities without HTP resident status may:
— Own and hold tokens in virtual wallets — Create and place their own tokens — but only through HTP residents — Acquire and dispose of tokens — only through HTP residents
The key restriction: any intermediary activity involving cryptocurrency is directly prohibited for companies outside the HTP. If a company helps clients buy, sell or exchange tokens, charges commission for this, or provides access to such a system — this is illegal without HTP resident status.
HTP resident status opens full access to crypto activity:
— Operating as a crypto platform operator (crypto exchange) — Operating as a cryptocurrency exchange operator (crypto exchanger), including through crypto ATMs — Conducting ICOs — raising financing through token issuance — Creating and circulating tokens — Mining — All token operations — 0% corporate income tax and 0% VAT
This is why HTP resident status for a company planning real crypto business in Belarus is not optional — it’s a requirement.
Until 2025, a preferential regime under Decree No. 80 provided broad tax exemptions for token operations. From January 2025, that decree lost effect and new Article 202-1 of the Tax Code came into force.
The current rules:
Operations through HTP residents — not subject to personal income tax. This covers both buying and selling tokens, and operations with tokens created by HTP residents.
Mining — not subject to personal income tax.
Token-to-token exchange — not subject to tax.
Operations outside the HTP infrastructure — subject to declaration and personal income tax at 13%. If established rules are violated — the rate is 26%.
For HTP resident companies as legal entities: 0% corporate income tax and 0% VAT on token operations are maintained within the HTP regime.
Decree No. 19 of January 2026 introduced a new category into Belarusian law: crypto banks. These are specialised organisations through which cryptocurrency settlements are now permitted when fulfilling foreign trade contracts for certain participant categories: self-employed individuals, craftspeople and a number of others.
This is a market expansion — the first step toward broader use of cryptocurrency in settlements between legal entities in Belarus.
All legal operations involving fiat money go through licensed operators — HTP residents. Among actively operating platforms: Whitebird (Whitebird CJSC) and Dzengi (Dzengi CJSC). All are required to comply with KYC and AML requirements.
Who finds Belarus interesting as a crypto jurisdiction
Belarus is attractive for several business categories:
Crypto platform and exchange operators. Belarus is one of the few jurisdictions where this business is fully legal, operates within a clearly defined regime, and benefits from 0% corporate income tax.
Companies raising financing through tokens (ICO). The legal framework for ICOs in Belarus has existed since 2017 — rare even globally.
IT companies working with crypto infrastructure. Blockchain development, smart contracts, and custodial services are all within the HTP permitted activities list.
From our practice: a team from Singapore developing a token exchange platform came to us after considering several jurisdictions — UAE, Estonia and Belarus. They chose Belarus: the legal framework for this type of activity is more specific here than in many other countries, and 0% corporate income tax through the HTP provided a clear financial advantage. Company registration took one day, obtaining HTP resident status took around one month.
Frequently asked questions
Can a foreign company run crypto business in Belarus? Yes. Foreign founders can register companies in Belarus and obtain HTP resident status without citizenship restrictions. More details: IT company registration in Belarus.
Is HTP resident status mandatory for crypto business? Yes, if we’re talking about commercial activity with tokens — operator activity, ICOs, exchange services. Without HTP resident status, such activity is illegal.
What tax do HTP residents pay on cryptocurrency operations? 0% corporate income tax and 0% VAT within the HTP regime. Additionally, 1% of gross revenue is paid to the HTP administration quarterly.
Can a company accept payment from clients in cryptocurrency? For HTP residents — yes, within permitted activity types. For ordinary companies — no. Using cryptocurrency as a means of payment in settlements between legal entities is not permitted, except in cases provided for under Decree No. 19.
What is an ICO and can it be conducted in Belarus? An ICO (Initial Coin Offering) is raising financing through token issuance. In Belarus, this is permitted exclusively for HTP residents. The legal framework has been in place since 2017.
Conclusion
Belarus remains one of the few jurisdictions in the region where crypto business is comprehensively legalised and operates within a clear legal regime. The key condition is HTP resident status. Without it, commercial activity with tokens is not possible.
The legislation continues to develop — 2025–2026 brought new rules on taxation and crypto banks. Staying on top of changes matters: the rules here evolve faster than in most other areas.
If you want to work out whether Belarus suits your crypto project — write to us or get in touch directly:
📧 [email protected] 📞 +375 29 142 27 19
We respond within 2 hours on business days.
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