The Belarusian regime has proposed to appoint the High Technologies Park Administration every bit a supervisory authority for local crypto exchanges and digital tokens, First Deputy Prime Government minister Nikolai Snopkov announced on Tuesday.

"The government has proposed to brand the Assistants of the Hi-Tech Park a supervisory trunk for crypto-exchanges and digital tokens. The President supported the government's thought. I believe that such a decision volition be fabricated before long," Snopkov said.

Co-ordinate to Snopkov, the government is currently trying to cull an appropriate government agency to supervise local crypto platforms in line with pan-European rules.

Snopkov said, "It is logical that the HTP Administration is the nearly good, with the best expertise in this field."

"I am certain that the HTP Administration will come upwardly with means to harness digital engineering science to promote the development of the country within the global network of crypto-exchanges and digital token," Snopkov added.

Belarus HTP is a special revenue enhancement and legal regime for Information technology businesses in Belarus that aims to assist abound the technology sector in the land. According to official state records, Belarus HTP is a territory within Belarus that is non considered a free or special economical zone but rather a jurisdiction providing some legal benefits and tax exemptions to its residents. The HTP Administration is a legal institution responsible for managing the HTP's activities.

Equally previously reported by Cointelegraph, Republic of belarus HTP has been actively involved in activities around crypto industry regulation. In 2018, a committee of the HTP issued a set up of rules for the functioning of the crypto market place in the state, including regulations related to initial coin offerings.

The HTP did not immediately respond to Cointelegraph's request for comment.