The High-Tech Park (HTP) of Belarus is actively working on introducing fundamentally new types of activities into the local crypto legislation. This concerns copy trading, trust management of assets, and airdrops — operations that have so far remained outside the legal framework for HTP residents. This is a significant step towards adapting the regulatory environment to the realities of the modern DeFi market.
Currently, these initiatives are at the stage of active discussion. Specific deadlines for adopting regulatory acts have not yet been set, but the direction of movement is clear: the Belarusian regulator seeks to legalize those instruments that have long become the standard for the global crypto industry. However, the most significant and already nearly resolved innovation is the launch of crypto banks.
What will change for users
The key novelty is the creation of a hybrid structure that combines an HTP resident and a classic bank under the supervision of the National Bank. This model will allow certain categories of individuals and companies to legally conduct foreign economic settlements using cryptocurrency. This is not just legalization, but a full-fledged integration of digital assets into the traditional financial system.
Belarus has already formed a comprehensive infrastructure for the legal circulation of cryptocurrencies with a clear division of regulation for legal entities and individuals. It is important to emphasize that the interests of the state and bona fide market participants coincide here: both sides are interested in expanding legal and safe investment methods while minimizing the risks of fraud. All HTP residents are obliged to warn clients about investment risks, which creates an additional layer of protection.
Expert assessment
The Belarusian approach to regulating the crypto industry is one of the most progressive in the post-Soviet space. The legalization of copy trading and airdrops will not only attract new projects to the country but also set a precedent for other jurisdictions. However, it should be noted that for Russian users, operations in Belarus may be associated with sanctions risks, which adds an element of uncertainty to this, overall, positive scenario.