Belarus vs Monaco
Crypto regulation comparison
Belarus
Monaco
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.
Monaco has no income or capital gains tax. The CCAF oversees financial activities. Monaco has shown interest in blockchain technology and digital assets.
Tax Type
Varies
Tax Type
No tax
Tax Rate
0% (HTP) / 13% (foreign platforms)
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Hi-Tech Park (HTP), National Bank of the Republic of Belarus
Regulator
Commission de Contrôle des Activités Financières (CCAF)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
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
- No income or capital gains tax
- CCAF provides financial regulatory oversight
- Government has shown interest in blockchain technology
- Working on digital asset regulatory framework
- Small but active fintech community