Lukashenko legalized cryptocurrency transactions in Belarus

President of Belarus Alexander Lukashenko signed a decree «On the development of the digital economy», which actually legalized cryptocurrencies in the country. Excerpts from the decree published edition

The document authorizes the provision of services related to the creation and placement of digital signs (tokens), activities of exchange, cryptocurrency exchange, cryptocurrency, mining.

«Individuals have the right to own tokens and do with them the following operations: mining, storage, exchange, acquisition, disposition for Belarusian rubles, foreign currency, electronic money, and also give and bequeath tokens», – stated in the decree.

Operations with tokens will not be considered entrepreneurial activity, and the parties to the transaction will be given tax benefits (they will be exempt from income tax, profit tax and value added).

Lukashenko at the meeting with representatives of the Belarusian business said that the main objective of the decree is to «create such conditions that the global IT companies came to Belarus, opened its offices, development centers and created demand product in the world», the press service of the President.

Another purpose of the document, he called the introduction of new financial instruments and technology.

«Major economies of the world still look to this new phenomenon. Belarus becomes the first country in the world, which opens up opportunities for the use of blockchain technology. We have all chances to become a regional centre of expertise in this area,» – said Lukashenko.

A token is a digital asset that the investor receives from the company in exchange for money, an analogue of securities on ICO.

In Ukraine at the moment, crypto-currencies are not recognized by the National Bank, but they not legally prohibited.

Lukashenko legalized cryptocurrency transactions in Belarus 23.12.2017

Декабрь 23rd, 2017 by
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