Belarus : legalisation of the activities related to crypto-currencies

The decree signed by the belarusian president, Alexander Lukashenko, which legalizes the crypto-currencies, the ICO and the intelligent contracts, will enter into force in march. The activities related to digital currencies are not limited by the order and will be tax-exempt until 2023.

Here are more details about this good news :

The crypto-currencies will soon be legal

The decree, which legalizes the virtual currency, the ICO and the intelligent contracts in Belarus will enter into force on march 28, 2018. Entitled ” On the development of the digital economy “, it was signed by president Alexander Lukashenko on 21 December. Iryna Chelyshava, an associate lawyer with the law firm belarus Vlasova Mikhel & Partners said that the decree allows legal entities and entrepreneurs who are resident in the Technology Park (HTP) to perform operations with crypto-currencies. Other investors can also use this technology on the territory of Belarus by the intermediary of the residents of HTP, a-t-she added.

Source : Gerd Altmann, Pixabay. The legalization of digital currency is an important step in the economy of Belarus

The HTP is an economic zone with a fiscal regime and the special legal in Belarus, similar to the Silicon Valley in the United States. According to the publication on its web site, 192 companies that develop software and provide computer services to customers from 67 countries in the world are residents of the park, of which 35% are companies with 100 % foreign investment.

No restrictions and no taxes

The spokesman of the PH indicated that the new decree legalizes the ICO, the digital currencies and intelligent contracts. It does not imply any restriction and requirements specific to the operations of creation, distribution, storage and exchange of digital currencies will be put in place.

This initiative would surely encourage many international investors to visit the country. In this order, the various crypto-currencies have been defined as units of currency. This device is a major step forward for Belarus, said Anton Myakishev, director of the office of Microsoft in the country.

Source : NewsBitcoin