Belarus is one of the earliest countries to establish a formal legal framework for cryptocurrency. Crypto assets, referred to in law as digital signs (tokens), were legalized under Presidential Decree No. 8 of December 21, 2017, “On the Development of the Digital Economy.” This decree created a regulatory regime centered around the High-Tech Park (HTP), allowing licensed operators to provide crypto exchange and related services.
The regulatory framework was significantly updated by Presidential Decree No. 367 of September 17, 2024, “On the Circulation of Digital Signs (Tokens).” The new rules introduced stricter oversight of cryptocurrency transactions and established clearer taxation rules beginning in 2025. The Ministry of Taxes and Duties (MNS) has also issued official guidance clarifying how crypto income should be declared by individuals.
From 2025 onward, cryptocurrency gains and income may be taxable depending on how and where the transaction occurs. Individual transactions conducted through licensed Belarusian High-Tech Park operators may benefit from tax exemptions, while transactions carried out through foreign platforms may be subject to personal income tax.
Capital Gains Tax Rules
Belarus does not operate a separate capital gains tax regime specifically for cryptocurrency.
Instead, gains from crypto transactions are generally treated as personal income and taxed under the standard individual income tax framework where applicable. The legal basis for cryptocurrency taxation is primarily found in Presidential Decree No. 8 (2017) and Presidential Decree No. 367 (2024), supported by interpretative guidance from the Ministry of Taxes and Duties.
Beginning January 1, 2025, individuals who earn income from cryptocurrency transactions on foreign platforms must report those gains and pay personal income tax at a rate of 13%. However, transactions conducted through licensed Belarusian High-Tech Park operators may be exempt from tax in 2025 under the updated legal framework.
How capital gains are calculated
Where taxation applies, the taxable amount is generally calculated as the difference between the proceeds from selling or exchanging cryptocurrency and the acquisition cost of the asset. The taxable gain is determined in Belarusian rubles based on the value of the cryptocurrency at the time of the transaction. If the asset was acquired through purchase, the acquisition cost normally includes the price paid and associated transaction fees.
Loss treatment has not been comprehensively detailed in publicly available guidance. As of 2025, Belarusian authorities have not issued detailed rules regarding the carry-forward or offset of cryptocurrency losses against other taxable gains.
Record keeping
Individuals must maintain records sufficient to support the calculation of crypto-related gains and income. These records typically include transaction dates, purchase prices, sale prices, exchange confirmations, and wallet addresses. Maintaining documentation from exchanges or HTP operators is essential in the event of verification by the Ministry of Taxes and Duties.
Income Tax Rules
Cryptocurrency may be taxed as ordinary income in several situations under Belarusian tax law. Beginning in 2025, individuals must declare income derived from crypto transactions conducted on foreign platforms, which is taxed at a 13% personal income tax rate.
This requirement follows clarifications issued by the Ministry of Taxes and Duties, including Letter No. 3-2-13/03080 dated October 25, 2024, and Letter No. 3-2-11/00182 dated January 17, 2025.
Income tax treatment may also apply where cryptocurrency is received as payment for goods or services. In such cases, the value of the cryptocurrency received is typically assessed at its market value at the time of receipt and reported as income in Belarusian rubles.
For companies, the tax treatment depends on whether they are residents of the High-Tech Park. HTP resident companies are subject to a preferential regime, including a planned 9% tax on profits from crypto transactions beginning in 2025. Non-HTP companies are subject to the standard corporate tax rate of 20%, which increases to 25% if profits exceed BYN 25 million.
Mining and Staking Treatment
Mining
Cryptocurrency mining is explicitly permitted in Belarus under Presidential Decree No. 8 (2017). Mining conducted by individuals is not considered entrepreneurial activity, which means individuals can mine cryptocurrency without registering as a business.
From 2025, however, income derived from mining activities connected to foreign platforms may be subject to the 13% personal income tax if it results in realized income. When mined coins are later sold or exchanged, the value realized from the transaction may become taxable depending on the platform used and the applicable rules in force.
Staking
Belarusian legislation does not provide detailed guidance specifically addressing cryptocurrency staking. As of 2025, staking rewards are generally treated in a similar manner to other forms of crypto income if they result in measurable financial gain.
Where staking rewards are received and later converted into fiat currency or exchanged for other assets through foreign platforms, the resulting income may be subject to the 13% personal income tax. Additional guidance may be issued by the Ministry of Taxes and Duties as the regulatory framework continues to evolve.
NFT Taxation
Belarusian legislation refers broadly to digital signs (tokens), which may include non-fungible tokens depending on their technical structure. However, as of 2025, Belarus has not issued detailed regulatory or tax guidance specifically addressing NFTs.
If NFTs are treated as a type of digital token under existing rules, gains from selling or exchanging them could fall under the same income tax framework applicable to other crypto transactions. Where an NFT is sold on a foreign platform and generates income, that income may be subject to the 13% personal income tax.
For individuals or businesses creating and selling NFTs commercially, the income generated may be treated as ordinary business income. Companies operating within the high-tech park ecosystem may benefit from the preferential tax regime provided under Presidential Decree No. 8 (2017), including VAT exemptions on crypto-related transactions.
Reporting Requirements
Beginning in 2025, Belarusian individuals who earn income from cryptocurrency transactions must report this income as part of their annual personal income tax declaration. This requirement primarily applies to transactions conducted through foreign cryptocurrency platforms.
Taxpayers must convert cryptocurrency values into Belarusian rubles when reporting income. The conversion is typically based on the market value of the asset at the time of the transaction. Supporting documents such as exchange statements, wallet transaction records, and transaction confirmations should be retained to verify the reported figures.
The Ministry of Taxes and Duties has issued formal guidance on reporting obligations through Letter No. 3-2-13/03080 dated October 25, 2024 and Letter No. 3-2-11/00182 dated January 17, 2025. These communications clarify the requirement for individuals to declare cryptocurrency income beginning in the 2025 tax year.
Additionally, regulatory reforms introduced by Presidential Decree No. 367 (2024) require individuals to conduct crypto transactions through licensed Belarusian High-Tech Park operators. This structure enables greater regulatory oversight and may facilitate tax compliance monitoring by authorities.
Penalties
Failure to report cryptocurrency income may result in administrative penalties under Belarusian tax law. Individuals who underreport taxable income or fail to submit required tax declarations may be subject to fines and additional tax assessments by the Ministry of Taxes and Duties.
In addition to financial penalties, taxpayers may also be required to pay interest on any unpaid tax liabilities. Interest generally accrues from the original due date of the tax obligation until the outstanding amount is settled.
Belarusian tax authorities generally allow taxpayers to correct reporting errors through voluntary disclosure. Prompt correction and payment of outstanding taxes may reduce the severity of penalties compared with cases where underreporting is discovered during an official audit.
