It is planned to assign to the Ministry of Communications and Information the right “to exercise control over the activities of crypto platform operators and cryptocurrency exchange operators.”
Today, the Ministry of Communications carries out state regulation of relations and control in the areas of information and communication technologies and telecommunications, develops measures of state support for developments in these areas, including submitting to the Council of Ministers draft legislative acts developed by the HTP administration. “The presence of such powers allows us to carry out the necessary regulation of the activities of residents of the High-Tech Park, performing the functions of [cryptocurrency exchange] operators,” says the justification.
In addition, the Ministry of Communications already performs similar functions to regulate the activities of postal operators in the field of preventing money laundering, and has the necessary experience, the developers of the bill believe.
Operators of crypto platforms must be mandatory registered in the High-Tech Park. But the global practice is that the financial market is the prerogative of the National Bank and the Ministry of Finance, which, as a rule, oppose the legalization of cryptocurrencies as their direct competitors. Therefore, the right to regulate this area was given to an uninterested party.
Recall that On December 21, 2017, Decree No. 8 “On the Development of the Digital Economy” was adopted, which legalized crypto business in Belarus. Many provisions of the document will come into force after March 27.
From March 28, according to the Decree, only HTP residents are allowed to buy/sell/exchange cryptocurrencies, operate as a platform operator for transactions with digital currency, create and place their own tokens, as well as work in some other areas in the field of blockchain technology and cryptocurrencies.
According to https://news.tut.by
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