• May 21, 2024

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Belarus Establishes a Procedure for Collecting Cryptocurrencies

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The Ministry of Justice of Belarus has established the procedure for collecting digital currencies as part of enforcement proceedings, according to the official website of the department.

The document has been adopted to implement the February decree on the creation of a register of Bitcoin wallets used in illegal activities.

Accounting for seized or arrested cryptocurrencies should be carried out by the authorities conducting the criminal process.

The Decree of April 14 fixes the procedure for collecting cryptocurrencies, including during the confiscation of the debtor’s property. The procedure also provides for their assessment and implementation in the framework of enforcement proceedings.

In 2018, the Decree on the Development of the Digital Economy came into force in Belarus. It established framework conditions for the use of cryptocurrencies and tokens, and also introduced tax incentives for crypto-related transactions.