Blockchain

Aleinikov & Partners law firm is a developer of the first legal act in the CIS that regulated circulation of cryptocurrencies and other digital assets (Decree of the President of the Republic of Belarus dated December 21, 2017 No.8 On Development of Digital Economy). Decree No.8 laid the foundation for the implementation of blockchain technology in various sectors of the economy, token circulation, cryptocurrency exchanges, and mining. Many provisions of Decree No.8 were called unique on a global scale by international experts.

Senior partner at Aleinikov & Partners Denis Aleinikov has developed a legal concept of smart contracts, which is reflected in Decree No.8. This made Belarus the first country in the world to legalize smart contracts as a new means to conclude and execute contracts using digital tokens.

Today, with the development of NFT technology, the importance of legally binding smart contracts increases. NFT can become a unique digital identifier of any objects of civil rights, forming the global market for digital avatars of both the physical and virtual worlds’ objects. At the same time, legally binding smart contracts will ensure their legal circulation in the blockchain or other distributed ledger technology around the world.

Our work in the field of blockchain covers the following aspects:

• Organizational and legal support for the creation of NFT (non-fungible tokens)
• Counseling on regulatory requirements for the use of DLT (distributed ledger technology);
• Counseling on the introduction of digital tokens to various sectors of the economy;
• Counseling on issuance of blockchain-based debt instruments (blockchain bonds);
• Counseling DeFi-projects on risk detection, analysis and mitigation;
• Assessment of the regulatory impact of normative legal acts on the blockchain projects;
• Counseling on the organization of and compliance with KYC / AML procedures when circulation of digital tokens is underway;
• Counseling on tax issues, connected with digital tokens circulation.