Crypto legalization in Belarus

Belarus President Alexander Lukashenko signed a decree "On the development of the digital economy" that would allow the use of digital currencies in the country legally. Within the framework of the project, the country allowed the turnover of currencies and Initial Coin Offering(ICO), as well as mining and crypto exchanges. The decree outlines terms and conditions of civil circulation of crypto-currencies and tokens based on Blockchain technology. A comprehensive legal regulation is proposed to allow creation of crypto-exchange and establishment of ICO as a fundraising tool. This document also includes, among other things, the most favourable conditions for the development of blocking technologies (mining and turnover of crypto-currencies), as well as comprehensive legal regulation of activities in this area. There are no restrictions and special requirements for storage, alienation, exchange of tokens and the operation of crypto-exchanges. Mining will not be considered an entrepreneurial activity, and tokens do not need to be declared. There will ั„ะดั‹ั‰ be no taxes from operations until 2023. "The main goal of the document is to create such conditions that IT companies from all over the world would come to Belarus, open their representative offices, development centers and create demanded products," - Lukashenko said. The main provisions of the decree will enter into force three months after its publication. So by the end of March it will become fully operational.