For years cryptocurrency In Belarus, a country that has a friendly attitude, another step has been taken about cryptocurrencies with the new decree signed by the country’s president, Alexander Lukashenko.
country in 2018. bitcoin and became one of the first in the world in this field by announcing that it allows crypto mining activities. Belarus also legalized crypto-related businesses in March 2018. With this move, the country had come to an advantageous position in the taxation of cryptocurrencies.
Belarusian President Lukashenko Signs A New Cryptocurrency Decision
In the statement made by the official sources of the country, it was announced that the president of the country signed the decree number 48, which “contains some issues related to the registration of virtual wallet addresses and circulation of cryptocurrencies”. It is known that Belarus is working intensively on preparing the legal infrastructure for the regulation of digital assets.
With the new decree, High-Tech Park, which is described as the country’s Silicon Valley, will manage the registry of crypto money wallets involved in illegal activities. The draft law also details how these registration procedures will be carried out.
With the said decision, the necessary procedures and criteria were determined for the government officials in the country to seize the crypto money of criminals. The purpose of the law was said to be to protect market participants from losing their money. In addition, the authorities claimed that with the new law, people will be prevented from unknowingly engaging in illegal activities.
Officials Say Country Continues Positive Attitude Towards Cryptocurrencies
In the details of the decree, it was also reminded that Belarus has always had a friendly approach towards cryptocurrencies:
“Belarus is constantly working on laying the legal groundwork for regulating activities related to digital assets. Unlike many other countries, Belarus allows free circulation of digital assets.”
*Not investment advice.