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  • Комментарий на положения о регулировании операций с криптовалютами и иных отношений, основанных на технологии «Блокчейн» Декрета Президента Республики Беларусь «О Развитии Цифровой Экономики» № 8 От 21 Декабря 2017 г. (Commentaries on Blockchain and Cryptocurrency-Related Provisions of the Decree of Belarus President No. 8 on Development of Digital Economy)

Article

Комментарий на положения о регулировании операций с криптовалютами и иных отношений, основанных на технологии «Блокчейн» Декрета Президента Республики Беларусь «О Развитии Цифровой Экономики» № 8 От 21 Декабря 2017 г. (Commentaries on Blockchain and Cryptocurrency-Related Provisions of the Decree of Belarus President No. 8 on Development of Digital Economy)

The President of Belarus signed a Decree No. 8 of 21 December 2017 on Development of Digital Economy in Belarus. This document among other things defines the legal regime of blockchain, cryptocurrencies, tokens, mining and smart-contracts. It defines the legal status of "operators of crypto-platforms" and "operators of cryptocurrency exchanges". The Decree provides definitions, taxation, application of other legislative provisions to the transactions based on blockchain.

This commentary focuses on analysis of the blockchain/cryptocurrency related aspects of the decree, specifically on:
• Sphere of its application (geographical scope and personal jurisdiction)
• Terminology used
• Legal status of the parties to the transactions
• Peculiarities of public-law regime of transactions (taxation, currency control, AML/CFT provisions)