Crypto Services for Russians Deemed Handy by Cifra Markets, Discussed at BF 2025 Forum
Crypto Forum in Moscow Highlights Belarus' Leading Role in Crypto Regulation
Over two days, the international Blockchain Forum 2025 in Moscow became a hotbed of discussions related to blockchain, cryptocurrencies, and mining, attracting over 15,000 participants from 100 countries. Some of the key attendees included representatives from the Ministry of Finance, State Duma, major Russian banks, and crypto industry giants like Litecoin, Bitget, and TON.
The first day of the forum featured a discussion titled "Investment Opportunities in the Cryptocurrency World: Prospects for Russia," moderated by Nikolai Zagvozdkin, Head of "RBC-Crypto." Participants included industry experts and Russian authorities, discussing issues concerning the legal regulation of cryptocurrency turnover, touching upon the experimental legal regime (ELR) currently being developed by the Ministry of Finance and the Bank of Russia, organized trading of cryptocurrencies, and the idea of creating a new category of qualified investors who can participate in such trading.
One of the highlights was a discussion led by Alexei Korolenko, Executive Director of Cifra Markets, focusing on the legal regime for digital assets in Belarus. Korolenko noted, "Belarus was the first to regulate cryptocurrency, essentially setting a precedent, if not the first, then one of the first in the world. And since the end of 2017, crypto has been fully legal in Belarus." He emphasized the country's full acceptance of cryptocurrency as a tool and asset class, resulting in calm, even-handed approaches from investors and regulators alike.
In contrast, while Russia is still developing full-fledged legal regulation of cryptocurrencies, some friendly countries, like Belarus, have already established comprehensive frameworks. Belarus' framework regulates cryptocurrency activities exclusively through Hi-Tech Park (HTP)-registered exchanges [1][3][5]. This framework offers regulatory clarity, tax incentives, and reduced risks for compliant operations [2][3].
The advantages for Russian investors in Belarus are evident: no capital gains tax on crypto trades [1], legal certainty offered by HTP’s comprehensive framework, access to operational infrastructure like Currency.com—a regulated tokenized securities exchange under HTP [2], and potential integration of Belarus’s upcoming digital ruble (2026), which aims to streamline payments and may offer interoperability with crypto services [4].
Despite these advantages, geopolitical risks and sanctions affecting Belarus’s banking sector may pose challenges for cross-border operations [2]. Nonetheless, the success stories of crypto regulation in Belarus serve as a beacon of hope for other countries in creating a conducive environment for crypto investments and operations.
- The international Blockchain Forum 2025 in Moscow featured a discussion about investing in cryptocurrencies, with Alexei Agranovskaya from Cifra Markets highlighting Belarus' leading role in cryptocurrency regulation.
- Belarus was the first to fully legalize cryptocurrencies, setting a precedent for other countries in the world, according to Alexei Korolenko, Executive Director of Cifra Markets, during the forum.
- Russian investors could benefit from Belarus' comprehensive framework for cryptocurrency activities, as it offers regulatory clarity, tax incentives, and reduced risks for compliant operations.
- Exved, a regulated tokenized securities exchange under Belarus' Hi-Tech Park, is one of the operational infrastructure options accessible to Russian investors looking to invest in cryptocurrencies in Belarus.
