Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The administration of Belarus Hi-Tech Park is the best authority to regulate the crypto market in the country, First Deputy Prime Minister Nikolai Snopkov said.
The Belarusian government has proposed to appoint the High Technologies Park Administration as a supervisory authority for local crypto exchanges and digital tokens, First Deputy Prime Minister Nikolai Snopkov announced on Tuesday.Â
âThe government has proposed to make the Administration of the Hi-Tech Park a supervisory body for crypto-exchanges and digital tokens. The President supported the governmentâs idea. I believe that such a decision will be made shortly,â Snopkov said.
According to Snopkov, the government is currently trying to choose an appropriate government agency to supervise local crypto platforms in line with pan-European rules.Â
Snopkov said, âIt is logical that the HTP Administration is the most proficient, with the best expertise in this field.â
âI am sure that the HTP Administration will come up with ways to harness digital technology to promote the development of the country within the global network of crypto-exchanges and digital token,â Snopkov added.
Belarus HTP is a special tax and legal regime for IT businesses in Belarus that aims to help grow the technology sector in the country. According to official state records, Belarus HTP is a territory within Belarus that is not considered a free or special economic zone but rather a jurisdiction providing some legal benefits and tax exemptions to its residents. The HTP Administration is a legal institution responsible for managing the HTPâs activities.
As previously reported by Cointelegraph, Belarus HTP has been actively involved in activities around crypto industry regulation. In 2018, a committee of the HTP issued a set of rules for the operation of the crypto market in the country, including regulations related to initial coin offerings.
The HTP did not immediately respond to Cointelegraphâs request for comment.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.