First Deputy Prime Minister Nikolai Snopkov announced on Tuesday that the Belarusian government has proposed to appoint the High Technologies Park Administration as a supervisory authority for local crypto exchanges and digital tokens.
“The 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 government’s idea. I believe that such a decision will be made shortly.”
According to Snopkov, the government is currently trying to choose a suitable government agency to supervise local crypto platforms in line with pan-European rules.
“It is logical that the HTP Administration is the most proficient, with the best expertise in this field,” Snopkov said.
Snopkov also added:
“I 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.”
According to Cointelegraph, Belarus HTP is a special tax and legal regime for IT businesses in Belarus that plans to help grow the technology sector in the country. 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, according to official state records. The HTP Administration is a legal institution responsible for managing the HTP’s activities.