Belarus Hi Tech Park was founded in 2005 to stimulate development of IT-technology in the country. In 2014 according to the President's decree functions, goals and authority of Hi Tech Park were expanded to provide a broader development of tech industries including crypto industry.
Park administration is responsible for:
- organization of professional conferences and events
- support of park residents
Any Belarusian tech company can become a Hi Tech Park resident. It is not necessary for such company to be hosted on the territory of the park - it can be located anywhere in Belarus. For residents of the park there are enacted special regulatory norms and tax exemptions.
There is a supervisory board in the Hi Tech Park which is responsible for development of the official regulatory documents concerning cryptocurrency, ICO, crypto exchanges and decentralized companies. The board has published its recommendations on crypto industry regulations on November 30, 2018
- regulate the process of application for HTP residentship and the minimum standards companies need to comply;
- give a definition to crypto exchanges, ICO and regulate their activity;
- describe the rules for HTP residents activity.