Legal assistance ICO

The Decree of the President No. 8 “On the development of the digital economy” signed on December 21, 2017 legalized the ICO (Initial Coin Offering), crypto-currencies and smart contacts in the Republic of Belarus. It became a real breakthrough and allowed our country to become the world’s first jurisdiction with a comprehensive legal regulation of businesses based on blockchain technology.

Legal features of the ICO organization and business, based on crypto currency exchange in the Republic of Belarus:

Mining, organizing ICO and the business of crypto currency exchange in the Republic of Belarus are allowed till 2049. To carry out this activity legally, it is necessary to fulfill the following legal requirements:

  1. To register a legal entity in the Republic of Belarus
  2. Become a resident of the HI-TECH Park
  3. To recieve the status of a crypto platform operator (ICO organizer) or a crypto currency exchange operator (owner of crypto-exchangers).

To do this, the ICO organizer must:

  • have more than 1.000.000 Belarusian rubles on the bank accounts
  • to develop and approve local regulatory acts of the company on regulating the order of token trading, on the procedure for admission and exclusion of participants to the ICO, on the admission of crypto-currencies to the ICO.

In order to acquire the necessary status for the owner of crypto-exchangers, there should be at least 200,000 Belarusian rubles on the bank accounts.

Thus, mining, ICO and crypto-exchange are the most attractive and promising directions, which, however, due to their novelty, have a lot of legal features and complications.

Legal support for ICO projects based on the technology of blockchain is one of the main services provided by our company. After all, as practice shows, it’s almost impossible to do without legal support in the organization of ICO.

What is the legal support for ICO?

In the “Lev, Sherstnev and partners” Law Office we provide a multi-level legal support service for ICO at all stages of development. We are guided by the principle of individual approach to clients, which is especially important with regard to the technologies of blockchain, as there are no the same projects. So, our task is to develop a client-oriented approach that will allow to solve the tasks set and minimize the client’s risks.

Qualified specialists of our bureau provide legal support for the work of the organizer ICO and mining, the owner of crypto-exchangers. In addition, we provide support in the following areas:

  • Registration of a legal entity, including with foreign capital
  • Legal support when entering the HI-TECH Park
  • Development of internal regulations of the company on regulating the order of token trading, on the procedure for admission and exclusion of participants to the ICO, on the admission of crypto-currencies to ICO
  • Preparation of a notification to the National Bank of the Republic of Belarus on opening a bank account abroad
  • Development of agreements between organizers and ICO participants on the placement, purchase, sale and exchange of tokens
  • Legal support for the installation of crypto-cash machines in Belarus
  • Preparing an option agreement
  • Preparation of an agreement with the company’s employees on non-competition
  • An agreement on compensation for property losses implementation to the contract of
  • Legal maintenance of the crypto platform operator and crypto currency exchange operator: hiring employees, development of an agreement on non-disclosure of commercial secrets, registration of a trademark, programs, designs, development of contracts, etc.

In the crypto-currency business, as in any other, it is necessary to act according to legal laws in order to minimize the risks of losses and achieve the goals set for the company. The phenomenon of ICO, being relatively young and definitely promising, raises particular interest and many questions on legal regulation.

Leave an application on our website right now, and get a consultation from a qualified lawyer about the requirement level of ICO legal support. We answer any of your questions and assess how much our assistance can make it possible to protect your activities and reduce the risks of wasting time and resources.