President of Belarus Expected to Sign Decree to Legalize Cryptocurrencies

By in Regulations on November 24, 2017
  • A draft decree on the Belarusian High-Tech Park which would legalize cryptocurrencies is awaiting the president of Belarus to sign into law.
  • In addition, exchanges can trade rubles for cryptocurrency, ICOs can be used for financing, and mining will also be allowed by law in Belarus.
  • This draft decree, which has already been presented to Lukashenko to sign into law, includes provisions for cryptocurrencies and ICOs at the legislative level.

Kevin Helms writes (key points selected):

A draft decree on the Belarusian High-Tech Park which would legalize cryptocurrencies is awaiting the president of Belarus to sign into law.

In addition, exchanges can trade rubles for cryptocurrency, ICOs can be used for financing, and mining will also be allowed by law in Belarus.

In 2005, Belarus president Alexander Lukashenko signed a decree to begin an initiative to create an IT-focused special economic zone, similar to Silicon Valley in the U.S.

This draft decree, which has already been presented to Lukashenko to sign into law, includes provisions for cryptocurrencies and ICOs at the legislative level.

According to local news outlet Tut By Media: The decree will introduce “into the legal field not only cryptocurrencies but also the activities of the so-called miners,” the publication detailed, noting that it will then be “possible to legally create major cryptocurrency mining centers in Belarus.”

“It is expected that Belarus will have a system for the exchange of real money for cryptocurrency, in fact, such exchange points will be legalized,” Priorbank’s Head of Digital Banking Sergey Lazyuk said this week at the Sputnik press center.

The publication quoted him saying: Belarus is also about to have its first centralized crypto exchange.

According to the exchange’s website, exrate.by, it will be: “The decree on the HTP will introduce certain legislative changes,” Lazyuk was quoted by a local news outlet, Ej.by.

While emphasizing that this issue is still under consideration, he said cryptocurrency exchanges are expected to be legalized in Belarus.

Read the full article: https://news.bitcoin.com/belarus-legalize-cryptocurrencies/

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