Belarus Legalizes Cryptocurrencies and ICO

Belarus ICO

The Sensation happened recently in the country of Eastern Europe Belarus in a sphere of ICO and cryptocurrency.

The President of Belarus Mr. Lukashenko will sign a draft decree on the Belarusian high-tech park which will legalize cryptocurrencies in the country of Eastern Europe.
This decree is part of a comprehensive effort to attract foreign investments into the nation’s High-Tech Park. The HTP has been set-up as the one place where enterprises and investors can receive tax benefits which include exemptions to income and or property tax.

When this law passed into, the decree will enable HTP resident and stakeholders to legally provide cryptocurrency exchange services, attract funding through Initial Coin Offerings as well as make use of digital and cryptocurrencies as tokens in authorized circulation. It is also possible to make cryptocurrency mining in the country.

The director of the department of e-channels maintenance and sales at Priorbank Mr. Sergey Lazyuk said: “It is expected that Belarus will operate a system of the exchange of cryptocurrencies for real money”.
It is very important that the country maximizes the legality and possibilities of cryptocurrencies. He says that even though the current laws do not prohibit the use of operations of crypto activities entirely, there is the need for laws to protect players in the field.

On July of last year, the Belarusian National Bank the central bank created an information network platform based on blockchain technology.

This network gives a possibility and permits to any bank and non-bank financial institution to become owners of verifying nodes.

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