Belarus has brought in cryptocurrency accounting standards, according to a ministry of finance document dated 6 March. Tokens that are to be sold again must be classified under the “Goods” debit section and the "Settlements with contractors and suppliers" and "Current expenses and incomes” credit sections, and those obtained by crypto mining go under the "Finished Products" debit account and the "Primary Production" credit account. The document, which was published on the ministry's website, states that all financial institutions must be registered with the Ministry of Finance and submit their accounts for public scrutiny. Last November, Lukashenko signed a crypto-related bill for the Belarusian High-Tech Park, which will create an economic zone modelled on Silicon Valley to support technology start-ups involved in cryptocurrencies and initial coin offerings.
Belarus has brought in cryptocurrency accounting standards, according to a ministry of finance document dated 6 March. The document, which was published on the ministry's website, states that all financial institutions must be registered with the Ministry of Finance and submit their accounts for public scrutiny. Last November, Lukashenko signed a crypto-related bill for the Belarusian High-Tech Park, which will create an economic zone modelled on Silicon Valley to support technology start-ups involved in cryptocurrencies and initial coin offerings.