Minsk company fined for illegal mining – OfficeLife

A metropolitan IT company was mining cryptocurrency without registering as an HTP resident. For this, the Economic Court fined the firm itself and its leader.

Minsk company fined for illegal mining

Photo: Izvestia

to be specified in a message from the Supreme Court of Belarus, from May 1, 2021 to September 15, 2022, the company mined Ethereum and Rvn, receiving more than $59 thousand in illegal income (at the time of the transactions at the rate of the National Bank – more than 142.65 thousand rubles). A separate electronic wallet was created for each type of cryptocurrency. The funds received on them were then cashed out.

Mining is not prohibited in Belarus, but you need to be a resident of the High-Tech Park (this is provided for by Decree No. 8 “On the Development of the Digital Economy”). The fact that the company did not fulfill this condition was discovered by the tax authorities.

The Economic Court of Minsk decided to recover 50 base units (1.6 thousand rubles) from the head, and 200 base units (6.4 thousand rubles) from the company. Also, 50% of the amount of income (more than 71.3 thousand rubles) and equipment worth more than 422.8 thousand rubles will be confiscated.

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