Belarus was initially one of the first countries in the world and the first CIS country to introduce transparent crypto regulation in the form of a decree of President Alexander Lukashenko, which was adopted in 2017. Among other things, he exempted cryptocurrency organizations from taxes for five years. There is regulation in the country, but it is becoming stricter and, in addition, the small domestic market in Belarus and sanctions hinder the development of the crypto industry in the country.
Country overview
#73
BelarusCountry stats
Rating Points
150
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
2.9%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
6
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
80
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
269 700
Total amount of crypto users out of the country's total population based on public data.
Taxation points
30
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
48
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Legally allowed
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
Ban
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Considerable danger
The overall level of security in a given country based on open data.
Crypto Salaries
Ban
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No data
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
Low
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
Sanctions
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
Crypto-to-crypto
This license type allows VASP to provide legal exchange from one cryptocurrency to another.
Crypto-to-fiat
This type of license regulates the exchange from cryptocurrency to fiat.
Mining
This field indicates jurisdictions where mining requires a special license.
Good
Medium
Bad
Belarus has a considerable danger according to our rating. It has 48.6 points (from 100) for safety level in Numbeo crime rating (1). Homicide level (2) is 2.3 per 100,000 inhabitants a year.
Crypto payments in Belarus are officially prohibited (3) and using cryptocurrencies to pay for goods and services as a means of payment is not permitted.
Crypto salaries as a form of crypto payment in Belarus are officially prohibited(4).
Decree(5) regulates in detail what cryptocurrency is, the possibility of exchange activities, the activities of exchanges and exempts residents of Belarus from taxes, and this exemption was recently extended.
| Tax name | Index |
| PIT tax Max | 13 |
| PIT tax Min | 13 |
| Corporate tax (CIT) | 18 |
| Max Individual CGT (for crypto) | 13 |
| Min Individual CGT (for crypto) | 0 |
| Wealth tax Min | 0 |
| Wealth tax Max | 0 |
PIT
The basic income tax (6) rate in Belarus is 13%. You can legally save on income taxes by taking advantage of the right to tax deductions.
CIT
The basic corporate income tax(7) rate is 18%, from 2023 - 20%, but in some cases, it can be lower or higher.
CGT
Return on invested capital (capital gain(8)) is treated the same as any other type of income (13%).
1) Crime Index by Country 2023 Mid-Year
2) List of countries by intentional homicide rate
3 and 4) CIVIL CODE OF THE REPUBLIC OF BELARUS. Law
5) Decree No. 8 "On the development of the digital economy. Law
6) Taxation of individuals. Article
7) Types of taxes. Article
8) The Belarusian tax system is far from perfect. Article