Belarus became the first jurisdiction in the world to introduce comprehensive legal regulation of blockchain-based businesses following the signing of Presidential Decree No. 8 "On the Development of the Digital Economy" on December 21, 2017. The decree created a legal framework for activities such as operating a crypto platform, operating a cryptocurrency exchange service, and organizing ICOs. It also introduced the possibility of entering into and/or executing transactions through smart contracts and established rules of cryptocurrency circulation.
The activities of crypto platform operators are regulated by the Belarusian High-Tech Park. High-Tech Park residents must meet the applicable eligibility criteria and comply with the requirements imposed on residents and their activities. More information is available on the High-Tech Park website.
Prior to obtaining this status, FREE2EX (Pixel Internet CJSC) underwent a technical audit and an audit for compliance with the requirements of the High-Tech Park regulator, conducted by one of the Big Four firms.