Crypto-business in Ukraine and Belarus: recent trends, opportunities, and risks

On June 19, 2018, SCHNEIDER GROUP organized our regular Quarterly Focus event. This time, the event was devoted to the topic “Crypto-business in Ukraine and Belarus: recent trends, opportunities and risks.” During the event, experts examined in detail the current legal status of the cryptocurrency, as well as the development of crypto-business in Ukraine and Belarus. Speakers were the Head of Legal & Tax department of SCHNEIDER GROUP’s Kyiv office, Mr. Artem Barinov, Head of Legal & Tax Department of SCHNEIDER GROUP’s Minsk office, Mr. Sergey Odintsov, and Legal Specialist of SCHNEIDER GROUP’s Kyiv office, Mr. Serhii Pelivan. The event was opened with a speech by the managing partner and founder of SCHNEIDER GROUP, Mr. Ulf Schneider.

In his presentation, Serhii Pelivan spoke about the technology of blockchain and crypto-business within the framework of the current legal base in Ukraine. The expert carefully considered the basic concepts of crypto-business, operations with using of cryptocurrency in Ukraine, and tax implications for operations with cryptocurrencies.

Artem Barinov spoke about the legislative initiatives of Ukraine aimed at resolving the legal status of the cryptocurrency, as well as the activities related to its issuance and exchange. In particular, the legal basis of crypto-business in Ukraine and the main provisions regarding the legal status of cryptocurrency, its purchase, exchange, taxation, and prospects were examined.

Sergey Odintsov, provided an overview of the current issues of the legal regulation of the cryptocurrency and crypto-business in Belarus, assessing the current business trends, opportunities, and risks for crypto-investors. Based on numerous facts, Sergey analyzed the current tax burden of IT companies in Belarus, the role of the IT industry in the economy, the specifics of doing business in the High-Tech Park (HTP), preferences and opportunities for investors, the process of entering the market, made a comparative review of the main provisions of Decrees Nos. 12 and 8, and spoke about the status and prospects for the growth of the IoT market in Belarus.

The event brought together representatives of many international companies in Ukraine. Active dialogue after the seminar, as well as a large number of questions asked by the participants of the event, were the evidence of a lively interest in the chosen topic.

To register for upcoming events as part of our series of seminars about Ukraine, go to the “events” section on our website.

Contact our experts:
Sergey Odintsov
Certified Tax Consultant, Head of Tax Department, Minsk
+375 / 17 / 290 25 57
Artem Barinov
Associate Director, Legal & Tax
+380 / 44 / 490 55 28
Serhii Pelivan
Legal Specialist
+380 / 44 / 490 55 28