Belarus

In Belarus, cryptocurrencies are legally recognized as "property rights" or digital tokens, not as legal tender. The country operates under a regulated framework for digital assets, established primarily through Presidential Decrees such as Decree No. 8. This framework includes anti-money laundering (AML) and know-your-customer (KYC) requirements for businesses, with licensed exchanges overseen by the High-Tech Park (HTP) and the National Bank of Belarus (NBB). The Ministry of Taxes and Duties of the Republic of Belarus (MTD) is the primary authority governing crypto taxation. This is done within the legal framework provided by the aforementioned presidential decrees. For individual investors, Belarus currently offers a highly favorable tax environment. Through December 31, 2025, all income derived from cryptocurrency operations, including capital gains from selling crypto, income from crypto activities, staking rewards, mining profits, and earnings from Decentralized Finance (DeFi), is exempt from personal income tax. There is no distinction between short-term and long-term gains, as all gains are exempt during this period. After the exemption period ends in 2025, a flat personal income tax rate of 13% is expected to apply to these activities. There is no Value Added Tax (VAT) on crypto operations. For corporate entities, businesses registered within the High-Tech Park (HTP) benefit from a reduced corporate tax rate of 9%, while the standard corporate tax rate is 25%. Regarding specific activities, staking, mining, and DeFi yields are all exempt from tax through 2025. Post-2025, these will likely be taxed at the 13% individual income tax rate upon receipt. Non-fungible tokens (NFTs) are generally treated as tokens under the existing legal framework and are also likely exempt through 2025, subject to the 13% tax thereafter, though specific official guidance for NFTs is pending. Converting crypto to fiat currency is exempt through 2025 but will become a taxable event post-exemption. Similarly, crypto-to-crypto swaps are exempt until the end of 2025, after which they are also expected to be considered taxable events. Looking ahead, the current tax exemptions for crypto income will expire at the end of 2025. Following this, the standard 13% personal income tax rate is anticipated to apply to most crypto-related earnings for individuals. Additionally, Decree No. 19, effective January 16, 2026, authorizes the establishment of new crypto banks, regulated by the NBB and HTP, to facilitate token operations and fiat currency conversions, including automated conversions for freelancers receiving crypto payments.