Bitcoin Forum

Belarusian hi-tech Park announced the launch of cryptocurrency exchange Currency.com, the activity of which is licensed by the decree"on the development of the digital economy".

The platform will trade tokenized assets for raw materials, shares, indices tied to the basic market value of traditional financial assets — a total of about 150 tokens. Subsequently, their number is planned to increase to 10 thousand.

Investors of the project were the company's VP Capital Belarusian businessman Victor of Protopine Larnabel Ventures and member of the Board of Directors of the group Safmar said Gutseriev. Their total investment amounted to about $10 million.

Citizens of Belarus and other countries, except the United States (due to national bans) and countries blacklisted by the International financial action task force on money laundering (FATF), will be allowed to trade on the exchange.

You can buy and sell tokens on the exchange both with the help of cryptocurrencies (bitcoin or Ethereum) and for Fiat money (us dollars, euros, Belarusian or Russian rubles). With anonymous crypto-currencies, like Monero, the platform will not work.

Make money on Currency.com it will be possible through direct transfer or payment with Visa and Mastercard Bank cards, Belarusian Belveb and Paritetbank will serve transactions. Exchange commissions will be from 0.2 to 1.5 percent depending on the operation.

At the same time, the initiator of the project Victor Prokopenia stressed that Currency.com " more about tokenized securities than cryptocurrencies."

"Currency.com it solves the problem of the lack of traditional financial instruments in the crypto market, which is why crypto investors are cut off from the market of traditional financial assets and can not exchange cryptocurrencies for Fiat currencies," his partner said Gutseriev added.

To prevent money laundering and terrorist financing, the platform will follow the standards approved by the national Bank of Belarus with the assistance of FATF at the end of November 2018.

The exchange founders plan to reach $70 million in revenue by the end of 2019.

CEO of Minerboard, member of the Board of the Belarusian Blockchain Association Alexander Lozben believes that for residents of the CIS countries Currency.com it will gain competitive advantages in comparison with other sites.

"First of all, it concerns the convenience of input and output for the residents of the Customs Union. In addition, investors who do not have access to stock trading because of sanctions, the origin of capital and small Deposit, theoretically will be able to use this exchange," he said in a comment to ForkLog.

Also, according to him, the focus of the platform on tokenized assets will expand the number of its potential users, and provide traders with more trading tools.

Source forklog.com (https://forklog.com/belarus-zapustila-reguliruemuyu-bitkoin-birzhu-v-ramkah-pvt/)

Seems like there will be more exchange like this in the future. Previously, it is DX.Exchange, now this one. Both of them provide the opportunity to buy tokenized assets like shares.

Will the exchange hold the real asset so that each token represent 1 asset (or a fraction of it?)? Can users withdraw the tokens to their own wallet? Which blockchain they'll use for tokenizing the security/assets?

I read that they are calling this the "world's first regulated tokenized securities exchange."
This is good news for the nation of Belarus as it is when any nation decides to regulate crypto.

Based on this article, it appears many crypto currency businesses are now based in the Belarus Hi-Tech Park after the government in Minsk legalized crypto-related activities for its residents.
https://news.bitcoin.com/growing-number-of-crypto-companies-operating-from-belarus/

It sounds good. A bit shame for not accepting anon coins, but I guess that they don't really know how to properly regulate them yet.
Also Belarus, while for me at least is unexpected, it has a nice position between Russia and Western Europe, so it can easily facilitate money/wealth/value transfer between both.

Let's see how it goes, for now, as a news, it's nice.

This is a good start and i'm sure many more will follow when the profits are released. After binance made millions so many new exchanges sprung up but none are able to compete yet

Belarus has been friendly to crypto:

https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

So I'm not surprised by this news at all. Maybe the government's motivation is really to attract a lot of investors to their country, and just like you said facilitate money transfers all across Russian and the rest of Western Europe, win-win situation. And as the article has noted, they wanted to change the perception about their country so this is one way to attract businesses specially crypto is really booming in the last couple of years.

First of many lets hope. Belarus is a country that doesn't have a big impact on the world economy but if we can manage to get the regulated bitcoin exchanges all around the world and make the exchanges responsible for the mistakes they do instead of letting them do whatever they want we can finally get great exchanges.

Even coinbase which is one of the biggest exchanges in the world does shady stuff that puts peoples money in jeopardy and not get called out for it by the government even tough USA is very law oriented in crypto world. Hence, we need to make sure first world countries like USA/UK and many more like that to follow at the foot steps of Belarus and make sure exchanges are liable with the law and provide customer support at a high level or have the chance of getting sued.

This is a very positive development, and would go a long way in reassuring citizens of Belarus of the legitimacy of bitcoin and selected alternative currencies.
Hopefully it's functioning would be an improvement to majority of the exchanges we have. And other countries follow the trail.

Who wants to use the service of a Belorussian provider?
I don't. Nor would anyone from Western Europe or America.
Maybe Russian or Serbs, but that's about it.

true, but that's a big market with very limited services, so it's probably worth tapping. a lot of people in russia and other post-soviet countries were still using WEX when it recently exit scammed because of a lack of other options. there's EXMO (also shady and connected to BTC-e) and not much else. otherwise there's only small local exchanges (limited liquidity) or local p2p exchangers. so i take this as a welcome development.

i guess if the russian government is really planning to accumulate bitcoins, they won't be able to do so on western exchanges or through western OTC brokers either. :P

Let me see, an exchange run by friends of the last dictator in Europe, in the most corrupt country and one of the poorest in Europe, is planning to attract money from all over the world (well, except US) because.... give me one reason!!!!!


Western Europe has SEPA, Belarus is not part of it, this is one huge NO.
The other huge NO is that Belveb is a bank that is under sanctions from the US, you really want to have your money going through it?

VP capital is lucky that they are fully supported by their own government, but will this come back and bite them in the a**? I mean they are only doing this in the hopes of improving their economy but tokenizing traditional assets really looks like a bad idea in terms of the Belarusian government having control with their own domestic markets, they are allowing themselves to be vulnerable to foreign investors to be manipulated with some price and dump action. This is still on its early phase and I may be wrong but they just allowed themselves to be the test subjects of this system.

According to my point of view The  first online cryptocurrency exchange based on block chain technology has been started in Belarus the world's first  regulated  tokenized securities exchange,, financially supported by London-based Belarusian entreprenuer a Russian business man .The online service allowed users to exchange different types of cryptocurrencies and also to sell and buy for national currencies .Block chain technology makes online transactions faster and more secure and as well as anonymous .Token may be used to safe guard sensitive data such as bank accounts  or financial  statements  the decree makes initial coin offerings and transactions in crypto currencies legal and all such trades will not be taxed.till the year 2023 .

What can we expect? there's a big chunk for these exchanges if the gov't will just recognize them.

I've heard a year ago about project laws on regulation of cryptos in Belarus and about attempts of crypto businesses to operate legally there. It's cool that there's the first legal exchange in the country now, and the fees seem reasonable to me. I also find it acceptable that anonymous cryptos won't be traded, because allowing them and complying with international AML practices is very hard. I was wondering about taxes, though. Will Belarussian traders have to pay the income tax or whatever other taxes there are in this country when they deal with cryptos? Will the KYC be required for every customer?

So what? Isn't it positive that there are exchanges in all parts of the world?
You can't expect Bitcoin to become used and accepted globally if smaller countries don't have their own exchanges.

Without talking about the political situation in Belarus, I think they're doing good by encouraging the use of cryptocurrency.
Other countries can really learn from that.

Even though this new exchange comes from Belarus, which is not a big country and cryptocurrencies are not very popular there its good to see that they start appearing. Everything starts with a small step and I think we are talking about the same thing here because someone had to take action and other will continue that way.

This is one of the world first regulated exchange and at that will have great user friendly interface on the exchange and we are hoping on more regulated exchange in the future because more and more countries are adopting cryptocurrency and blockchain.

If I hear news like this, I always feel like living in that country where crypto and blockchain which are new technologies in the world of economy are accepted by a country openly even the government also supports the development of these technologies. The regulation must be issued because even though crypto is not an asset that is controlled by a party but if crypto wants to be accepted by a person it must follow the rules of that country.

So it is both a place to trade stuff like bitcoin and ethereum but at the same time buy stocks and shares of a company as well. I wonder if we could just send bitcoin and with the deposited bitcoin we could buy shares of a company ? If that is the case than I think it is honestly a great innovation in crypto space. Their name is also amazing, just pure minimalist currency.com and that's it.

I think it is certainly a website that has a huge upside and could potentially help out many millions of people not only in Belarus but also people outside of Belarus to be part of this new system as well. I am sure if people are allowed to buy shares and stocks with bitcoin they would jump on that chance even if it was companies based on belarus because people love spending money on companies without actually having to work with banks.

Belarus might not have the same level of trust as Germany but it is a free country and it is a good exchange for the local citizens. It might even attract other investors to go there and start their bitcoin business

Its give confident to crypto investor and maybe followed by others country. More regulation from government will be good for cryptocurrency because many people afraid to invest in crypto because there is no regulation.

Belarus is positioning itself as a friendly country to cryptocurrency
The opening of a regulated tokenized stock exchange will be another link in the overall development of cryptocurrency. Therefore, this is very good news for all users of cryptocurrencies.
Belarus also created favorable conditions for mining Bitcoin and other cryptocurrency, in connection with which the Chinese chose this country for mining after their government began to create difficulties for them with mining.

Good, then i could invest in Belarus companies using bitcoin, i like that. What i don't like is if its gov controlled they might impose unrealistic unfavorable exchange rates, which is what they do here...

But it would indeed take a country from an "unregulated zone" to pull something like this first. Can you imagine the hurdle to mix crypto and stocks in America? Hey i want my Tesla stock bought with bitcoin, if this was a free country... Best you could to is go with one of those CFDs and "pretend" buy the Tesla stock with "USD" that came from an electronic "wallet" that allows bitcoin deposits...

Can't wait for the world to drop the facades already.

That will give another opportunity for people to trade cryptocurrency in their local country, and that will help adoption to reach more people so they know that cryptocurrency can give them a way to get a new source of income.
Yes, that will attract more investors too besides of people who want to make a better income but that will not easy because there will be people who don't like with cryptocurrency and they will do anything to makes people don't believe in cryptocurrency.
But that will depend on the people itself, and I am sure that they can filter the right news for their benefits.

Well i hope to have more of this exchanges launched by more countries and this will help more people to buy because they will think is safer to buy from there and i think they will pay fee when buy and will kot have any extra tax after.

Good efforts it will help economy of Belarus. Will stop illegal use of crypto currency and will gather huge amount of tax for country. Other countries should also legalize it by making exchanges on which they give a check.

An almost totalitarian country is launching a totalitarian crypto exchange. ;D
I'm sure the belarusian government will use this as a way to catch most of the crypto traders in Belarus(if they are so stupid to actually register).

Recently, Belarus has been very actively implementing various privileges and conveniences for those who deal with the world of cryptocurrencies at the legislative level, in this country sufficiently good conditions are created so that entrepreneurs associated with cryptocurrencies feel quite free.

with such actions means Belarus is one of the cryptocurrency paradise at this time. I believe that the prosperity of the country will increase with increasing cryptocurrency prices, and this should be what should be done

This is exactly what the other countries should look at as an example. After all you have to actually make it legal and governmental to see how the tax works out and who buys and sells how much and when and see their profits and losses and how they should pay taxes on how much and so forth. If you do this like Belarus is planning (or currently doing) then you get yourself a crypto currency craze in a country that literally is watched over by the government and used for their advantage.

If a country just flat out bans crypto currency do you think it will stop all trades? No. It will just slow it down but people will find a way to get it anyway, so this way you are taking advantage of that popularity and you are using that to raise gains of the government via a new tax channel.

money.com is definitely the most multimedia exchange I've ever seen. This is really a shopping mall between stocks, cryptocurrency, fiat money, ...
If this project achieves its goals and fulfills its words, Belarus will surely have a very successful business in the financial market. We should consider this exchange, it could be exchange number 1 of the future.

What did i missed here ?  I dont know what is belarus and my first impression is its some kind of a new company or something ?   I dont also think that their exchange can compete with other big exchanges nowadays but why is everyone complementing it ?    

Lol, you haven't heard of Belarus mate? It's some country right now that is totally offering a friendly and safe haven for crypto related projects.

So obviously everyone is complementing them because they are opening doors for crypto adoption on that side of the globe. And that is very good news indeed, so I suggest you start researching for more countries because more and more nation will just make a turn because they know that this technology will be the future.

What is really introduced with this, that differs from any other regulated exchange out there? You still have an exchange, trading tokens for fiat and visa versa, like all the other exchanges.

Regulated exchanges are a honeypot for information gathering on people's private financial matters and this is just extended to Crypto currencies now. So when government agencies wants information on Crypto currency users, they turn to centralized organizations like this.  ::)

Nothing new here, just move on.  :P

The project is quite interesting and personally I will follow him. It is likely that I will become one of the users of this exchange. It will be necessary to see how convenient it will be for users and what advantages it will have over competitors. The good news is that large investors who have experience and reputation are involved in the project. Belarus is generally very progressive in its approach to the distribution and regulation of cryptocurrencies. This is good news.

No need for such anxiety because development is a gradual process, it starts from somewhere and like diffusion, it moves to other places. So it is usually tasted where it starts from and if it solves a problem, others emulate it.

Yes i believe cryptocurrency soon will have a real value that are more stable and more sustainable for businesses. I do think bitcoin will be much more stable. STO and IEO are already on the horizon and it will changes how to crowdfunding and i believe IEO and STO will grow dramatically in this year.

Well.. I would say this is good news. The former USSR is one of the strongholds of cryptocurrency (or it used to be so until a few years back). But unfortunately the governments of Russia and Ukraine took a very hostile stance towards crypto from the very beginning. In the end a lot of the businesses were forced to move out. What Belarus is trying to do is very appreciable.

Now, these traders will be simply cautious and use the international, stable and trusted exchanges. Really, it looks very strange for Belarus. However, probably, they have changed their attitude towards crypto?

Everything that is really positive news is good for the market. Belarus is really opposing what Russia is doing right now. We all know that Russia hates bitcoin and the rest of crypto and I think this is one major reason why Belarus is giving home to everything related to crypto like ICO's as if giving the middle finger to the current government of Russia.

So let's see how this will turn out in the future. This is very interesting news because we really wanted crypto to grow in the next 5-10 years and countries like Belarus is already carrying the torch on that side of the globe. So better watch out for this one.

Is this a mix of a crypto exchange and a stock exchange? Look innovative if so.

The reason why some countries do not recognize bitcoin and cryptocurrency is the idea of "illegal money" being hide here. T
This action made by Belarus government to regulate is a good move. In this way they can prevent money laundering. However, some of the investors and traders do not agree with the idea.

Seems all these people want is to abandon bitcoin, ok do this, wish luck. But I have another question? Why do you ain only bitcoin in your list? Because there are more powerful coins for reasons of why you ban bitcoin and for example let's takr Monero. You may know it's more anonymous than bitcoin and is pretty easy to money with cpu too. Just don't abuse this bitcoin, let this coin be like it was from the very begining.

Belarus is actually a country in Europe and I think peoples are much excited over here instead of a lot of other exchanges due to this exchange being centralized and also I think that there are a lot of benefits over there. I just checked their website and it seems catchy and attractive. I would like to go more deeply through their project and see if I can find any profits for me in there. Peoples needs to literate themselves regarding cryptos and also they need to get more knowledge about how to earn profits from them. I agree with you that there are a lot of big exchanges but if we deeply consider this exchange, we can see some potential in it.

We have couple of regulated bitcoin exchanges all over the world, some of them are so legit and so into government that they are literally hiring consultants from ex-government workers like literally senators and congressman and what not in order to be legit and never have headaches. That is the bad part about government, if you know a senator yourself than they will do whatever they can to protect you and unless something major comes out of it that would lose political parties votes than nobody really challenges you as long as you have the politician in your pocket.

We have an exchange like that which pays taxes, hires employees, have a big building and what not doing all amazing work just because they have an ex-politician partner and that is all its required to run a grey company in white zone.

if indeed this exchange has the potential, of course there will be a future to follow. of course we can use it to make a profit. of course after this I can learn more deeply and can share info with friends

Actually as the peoples from belarus are supporting this exchange hence I think that they might surely succeed in their future and also there is vast scope in opening a stock exchange market which would run smoothly with the cryptocurrency supporting various tokens and coins. I was not that aware about exchanges who would offer even stock trading and arbitrage but it is really good to see something like this coming in the market from one of the most well-known state in europe. I am sure the Economy of Belarus would be sky-reaching after they succeed with their exchange and make it more publicly. There are thousands of traders who are always in search of such exchanges.

Hhahahahaha, I can't stop laughing...
Guys, the exchange has managed to do a bit of under 1 million in trades in a day and is losing volume
Americans can't trade on it, it has a schedule, it doesn't run 24/7 , the economy of Belarus is at garbage level with a median wage of 350$.

If it were like that, an exchange influencing the economy of a country by now  Bulgaria, Slovenia and Malta should have already reached galaxy superpower levels.

Stop daydreaming, it's painful to even read this nonsense.

Until the end, it is not clear that the identification procedure is necessary on the exchange to withdraw funds or not. In any case, the residents of Belarus who have been identified are at great risk because the stock exchange will most certainly cooperate with state authorities.

I think all good and right exchanges now require a very clear identity to be able to make a withdrawal from the profits you get, usually it is called KYC and is usually done for all exchange platforms.

Exchange with a simple interface and the poorest set of functions. The number of pairs with cryptocurrency is minimal - only 9. I would not even call this exchange "cryptocurrency". But the launch of this exchange is a positive sign for Belarus. I am sure that the state fully controls the movement of cash flows of this resource. When registering I had to go through KYC verification.