Belarus is on the verge of a significant expansion of its crypto regulation. The High-Tech Park (HTP) is actively working on introducing a number of new types of activities into the legal framework that were previously illegal. These include copy trading, trust management of crypto assets, and airdrops. These are not just point changes, but a systemic upgrade that could take the Belarusian crypto ecosystem to a fundamentally new level.
What exactly do they want to legalize?
Currently, all three areas are in the active discussion stage. Specific implementation timelines have not yet been set, indicating a thorough approach by the regulator. However, the very fact that mechanisms such as copy trading (automatically copying the trades of successful traders) and airdrops (free distribution of tokens) are being considered as legal operations is a powerful signal for the market.
In parallel with this, and this is already a resolved issue, a law on crypto banks will come into effect soon. The new structure, combining an HTP resident and a classic bank under the supervision of the National Bank, will allow legal entities and individuals to conduct foreign economic operations with cryptocurrency in a completely legal field.
Infrastructure and Protection: The Interests of the State and Users Align
The HTP emphasizes that a comprehensive infrastructure for the legal circulation of digital assets has already been created in Belarus. It includes separate regulations for legal entities and individuals, as well as existing restrictions. The key point: the state and law-abiding users are interested in the same thing — expanding safe and legal investment methods while minimizing the risks of fraud.
All HTP residents are required to warn clients about investment risks. Moreover, it is possible to verify whether a particular exchange or organization is an HTP resident and whether the benefits and state protection apply to it by directly contacting the High-Tech Park. This creates a transparent verification mechanism that is sorely lacking in many other jurisdictions.
My expert assessment: The legalization of airdrops and copy trading is not just a formality, but a strategic step. Airdrops are a powerful tool for attracting users and marketing new projects. Their legalization could attract hundreds of startups to Belarus that are currently operating in the "gray" zone. Copy trading, on the other hand, is a "ticket to entry" for retail investors who want to earn income from cryptocurrencies but lack sufficient knowledge for independent trading. Combined with the law on crypto banks, Belarus is creating a unique precedent — a full-fledged, regulated, and attractive crypto hub in the post-Soviet space. However, one should not forget about the EU sanctions pressure, which imposes certain restrictions on operations with Russian users. Nevertheless, for the domestic market and friendly jurisdictions, this is undoubtedly a positive signal.