Belarus vs Germany
Crypto regulation comparison
Belarus
Germany
Legal
Legal
Belarus legalized cryptocurrency through Decree No. 8 (2017), creating a favorable environment in the Hi-Tech Park special economic zone. As of 2025, crypto transactions via HTP residents remain tax-exempt, while transactions on foreign platforms are taxed at 13%. A crypto bank framework was introduced in 2026.
Germany has one of the most well-defined crypto regulatory environments in Europe. BaFin has regulated crypto custody as a financial service since 2020. Notably, crypto held for over one year by individuals is completely tax-free, making Germany one of the most favorable jurisdictions for long-term holders.
Tax Type
Varies
Tax Type
Capital gains
Tax Rate
0% (HTP) / 13% (foreign platforms)
Tax Rate
0-45%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Hi-Tech Park (HTP), National Bank of the Republic of Belarus
Regulator
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under MiCA; BaFin already licensed crypto custody under existing German law since 2020
Key Points
- Decree No. 8 'On the Development of the Digital Economy' legalized crypto in 2017
- Income from crypto via HTP residents and mining remains tax-exempt; 13% tax on foreign platform transactions since 2025
- Crypto exchanges and businesses must operate through Hi-Tech Park residency
- Mining is legal and considered a business activity
- HTP preferential regime extended until 2049; crypto bank framework introduced in 2026
Key Points
- Crypto held for more than 1 year is completely tax-free for individuals
- Short-term gains (under 1 year) taxed as income at up to 45% plus solidarity surcharge
- Annual exemption of €1,000 for short-term crypto gains (since 2024, previously €600)
- BaFin licenses crypto custody businesses under the KWG (German Banking Act) since January 2020
- MiCA framework applicable from December 2024, complementing existing German regulation
