The financial group Finam is working on creating a crypto broker at the High Technologies Park (HTP) in Belarus. This was reported by «Известия».
The company estimates that the full launch of the legal entity will take two to three months, with an expected completion by the end of February 2024.
The crypto broker will operate with Bitcoin, Ethereum and USDT in pairs against the Russian and Belarusian rubles.
Account funding will be allowed via bank card, and withdrawals will be possible in fiat as well as digital assets.
Top executives at Finam attribute Belarus’s appeal to its accommodating conditions: a relatively small charter capital requirement (15 million rubles) and tax incentives.
In the future, the crypto broker’s activities could be expanded to Russia and other nearby countries.
Earlier, Belarusian President Alexander Lukashenko extended tax incentives in the cryptocurrency sphere for IT Park residents until January 1, 2025.
According to the decree, the acquisition, disposal, mining and exchange of tokens for any currencies are not subject to personal income tax.