[2017-11-24] President of Belarus Expected to Sign Decree to Legalize Cryptocurr

[Terraformer]

A draft decree on the Belarusian High-Tech Park which would legalize cryptocurrencies is awaiting the president of Belarus to sign into law. Among other provisions, if the law is passed, cryptocurrencies and initial coin offering (ICO) tokens will be approved for circulation. In addition, exchanges can trade rubles for cryptocurrency, ICOs can be used for financing, and mining will also be allowed by law in Belarus.

Belarus’ Decree to Legalize Cryptocurrencies

Belarus is a landlocked country in Eastern Europe, located between Poland and Russia. The country has a population of approximately 9.5 million.

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. The zone is referred to as the High-Tech Park (HTP). It is the only place in the country that provides tax benefits on a systematic basis. For example, HTP residents are exempt from income tax, value-added tax, land tax, and property tax.

In the summer of this year, a decree was prepared in order to facilitate the inflow of international investments and incorporate new technologies and innovations in the HTP. 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 provides for the introduction into civil circulation of cryptocurrencies and tokens based on the technology of blockchain. A comprehensive legal regulation is proposed so that HTP residents can provide crypto exchange services, exchange cryptocurrencies, attract financing through ICOs, [and] use cryptocurrencies and tokens in civil circulation."

Continue reading >>> https://news.bitcoin.com/belarus-legalize-cryptocurrencies/

[Basmic]

Belarus is entirely in the orbit of Russia's interests. It is part of a single economic Union with Russia. It means that Lukashenko won't be able to introduce the laws governing the circulation of cryptocurrency in the country. Putin is in no hurry to legalize cryptocurrencies in Russia and why it is safe to say that he will put pressure on Lukashenko with the aim to adhere to a unified legislation in this sphere.

[coolcountry]

Isn't this good news? In my book any type of legalization is better than nothing at all. Increases the legitimacy of cryptocurrencies worldwide.

[Taki]

Isn't this good news? In my book any type of legalization is better than nothing at all. Increases the legitimacy of cryptocurrencies worldwide.

Of course this new is good. Many people call Lukashenko as totalitarian leader, but just look, he choose bitcoin's legalization meanwhile Belarus' neighbours are on the road of rough regulation. If this legalization will happen it will have only positive effect on bitcoin and all crypto currencies. It is just my opinion, but I see every new pump is coming after a country announce about bitcoin legalization.

[leonair]

This is a good advancement for the coin, when more and more countries accepts the coin, specially when a legalization is done, bitcoin will be known worldwide in no time and will truly help on its popularity.

[Yaunfitda]

Belarus is entirely in the orbit of Russia's interests. It is part of a single economic Union with Russia. It means that Lukashenko won't be able to introduce the laws governing the circulation of cryptocurrency in the country. Putin is in no hurry to legalize cryptocurrencies in Russia and why it is safe to say that he will put pressure on Lukashenko with the aim to adhere to a unified legislation in this sphere.

But isn't it they are no longer under control of Russia? They are totally independent of each other and it Russia says no to bitcoin or crypto's, it doesn't mean that other states should follow as well. Putin will not legalize crypto in my opinion. But to put pressure on Lukashenko? I don't know how far on Lukashenko will give in such request.

He has his own roadmap for Belarus, and I think he made his decisions already to legalized and regulate it in their country. If he gives in to Putin request then it doesn't look good for his image as President of his country. For now lets consider this another win for the crypto market if he signs this into a law.

[Samarkand]

.... if the law is passed, cryptocurrencies and initial coin offering (ICO) tokens will be approved for circulation. In addition, exchanges can trade rubles for cryptocurrency, ICOs can be used for financing, and mining will also be allowed by law in Belarus.
...

I support their effort to legalize cryptocurrencies and think that this makes Belarus an interesting location for cryptocurrency-related
businesses. However, I´m really surprised that they will also legalize ICOs. Most other countries that have passed legislation regarding
ICOs have imposed huge restrictions or outright banned them. Therefore it is really interesting, that Belarus seems to be taking
a different regulatory approach. Just compare this effort to the way that China handled ICOs.

Meanwhile, countries like Morocco are banning cryptocurrency altogether. It is really interesting how different the regulatory bodies
of different countries treat this nascent industry.

[iamTom123]

This is an exciting development for Bitcoin as well as the ICO platform. I am sure that those in the authority in Belarus have studied well how they can gain the much-needed benefits from this trend and by introducing their regulations ahead of their neighboring countries they can attract new investments from fintech companies. That is a big plus.

This is actually a very good and wise move and one that can cement Belarus place in the cryptocurrency map. The country beat Russia on this regard and I think we should congratulate Belarus for this very welcome move. In the coming years, it would be good to watch how cryptocurrency is able to push the country's economic agenda as we need a good model for a country that is doing well partly because of its embrace of Bitcoin and the blockchain technology.

Welcome to the world of Bitcoin, Belarus!

[richardsNY]

Isn't this good news? In my book any type of legalization is better than nothing at all. Increases the legitimacy of cryptocurrencies worldwide.

It's decent news for sure, but there isn't a need to exaggerate things. If they would prohibit crypto usage in its entirety, it wouldn't have had any impact and people simply wouldn't care. Overall, one country like Belarus doesn't make a real change, but if you combine smaller countries and pool them together, they will be a force to reckon with. Not that it may have any type of impact, but Belarus and Russia have close connections, which may (regardless of how insignificant) help Russia to finally make up its mind. They have been moving back and forth for years now, so it definitely is time for some serious actions, otherwise nothing will change even if we're a year or two further.

[Pasttimeuftor]

Belarus is entirely in the orbit of Russia's interests. It is part of a single economic Union with Russia. It means that Lukashenko won't be able to introduce the laws governing the circulation of cryptocurrency in the country. Putin is in no hurry to legalize cryptocurrencies in Russia and why it is safe to say that he will put pressure on Lukashenko with the aim to adhere to a unified legislation in this sphere.

But isn't it they are no longer under control of Russia? They are totally independent of each other and it Russia says no to bitcoin or crypto's, it doesn't mean that other states should follow as well. Putin will not legalize crypto in my opinion. But to put pressure on Lukashenko? I don't know how far on Lukashenko will give in such request.

He has his own roadmap for Belarus, and I think he made his decisions already to legalized and regulate it in their country. If he gives in to Putin request then it doesn't look good for his image as President of his country. For now lets consider this another win for the crypto market if he signs this into a law.

I hope people in that country will start using Bitcoin or other coins soon.

[J. Cooper]

Isn't this good news? In my book any type of legalization is better than nothing at all. Increases the legitimacy of cryptocurrencies worldwide.

Of course this new is good. Many people call Lukashenko as totalitarian leader, but just look, he choose bitcoin's legalization meanwhile Belarus' neighbours are on the road of rough regulation. If this legalization will happen it will have only positive effect on bitcoin and all crypto currencies. It is just my opinion, but I see every new pump is coming after a country announce about bitcoin legalization.

I don't really know a lot about Lukashenko to be fair so I don't know what his reputation is exactly. But it's certainly a very positive development for Belarus and bitcoin. To be honest I don't think it will have a very big impact on the market but everything helps I guess. Hopefully the economy of Belarus will prosper and encounter more opportunities if this 'legalization' goes through.

Belarus is entirely in the orbit of Russia's interests. It is part of a single economic Union with Russia. It means that Lukashenko won't be able to introduce the laws governing the circulation of cryptocurrency in the country. Putin is in no hurry to legalize cryptocurrencies in Russia and why it is safe to say that he will put pressure on Lukashenko with the aim to adhere to a unified legislation in this sphere.

But isn't it they are no longer under control of Russia? They are totally independent of each other and it Russia says no to bitcoin or crypto's, it doesn't mean that other states should follow as well. Putin will not legalize crypto in my opinion. But to put pressure on Lukashenko? I don't know how far on Lukashenko will give in such request.

He has his own roadmap for Belarus, and I think he made his decisions already to legalized and regulate it in their country. If he gives in to Putin request then it doesn't look good for his image as President of his country. For now lets consider this another win for the crypto market if he signs this into a law.

I hope you're right. I wouldn't be surprised at all if Putin still applies some kind of pressure on the Belarusian government and thus on Lukashenko.

[Irvinn]

Quite a loyal to the Crypto-currency bill, which almost completely legalizes the circulation in Belarus of all types of crypto currency and even the activity of the initial offer of coins (ICO). This is rather strange, since Belarus recently was actually semi-closed from the West by a country where traditions of the disintegrated USSR still prevailed. In addition, Belarus closely cooperates with Russia, and there all can not decide how to treat the crypto-currency, and most likely treat it with suspicious hostility than friendly. In general, the bill is very good for the circulation of crypto-currencies in this country.

[krstnsen]

Good for Belarus! Legalizing it could facilitate the international investment and incorporate new technologies that can give great opportunities for its people. Kudos!

[bambazamba]

This sounds like a political rivalry to me . Belarus got separated from Russia and Russia recently made news about banning bitcoin !
Its like two countries fighting for getting the best opportunities . Anyways ! Turn out to be beneficial to bitcoin .  Belarus is struggling to become one of the word's best economies and this initiative is like taking five steps ahead in order to attain the ultimate goal .  By regulating or by legalizing bitcoin , many companies across Belarus will invest in Bitcoin which would further accelerate the popularity , demand and value of Bitcoin . I hope the adjacent countries get some inspiration from Belarus.                     

[alexzorgo]

I think, it is transition period in legalization of cryptocurrencies which is necessary in the countries with the totalitarian government. And it is better, than in general to forbid any turnover of cryptocurrencies and prosecution of supporters of bitcoin. I consider that this first step to widespread introduction to all spheres of a blockchain and cryptocurrencies is very important for citizens of this country even if with such restrictions as the state regulation. On the example of China it is possible to see as strict totalitarian control of the Communist Party and market economy gets on in one country. And if Republic of Belarus goes at least on such way of implementation of cryptocurrencies it there will be big progress in development to market economy in the country

[veleten]

Belarus is in the economic union with Russia,they have more integration than many of the EU countries
in fact,their trade,borders,economies and military are very well interconnected
and Belarus cannot attempt this without green light from Russia
hence I think this is not going to happen,at least not before they pass the same bill in Russia
and,frankly,I'm tired of all the news about crypto in Russia,always contradictory,always without any solid inside

[RedX]

I'm not familiar with Belarus but it's a good sign that they are supporting crypto but this is still not a good news until it  happens. It is still expectation and I'm hoping nothing will interfere for this historic moment for cryptocurrencies in their country.

[carlisle1]

Isn't this good news? In my book any type of legalization is better than nothing at all. Increases the legitimacy of cryptocurrencies worldwide.

Of course this new is good. Many people call Lukashenko as totalitarian leader, but just look, he choose bitcoin's legalization meanwhile Belarus' neighbours are on the road of rough regulation. If this legalization will happen it will have only positive effect on bitcoin and all crypto currencies. It is just my opinion, but I see every new pump is coming after a country announce about bitcoin legalization.

every country that legalized bitcoin or the whole cryptocurrencies is a big help and advantage on our part,this means a pump for the market and will give more opportunity to other nations people to have another means of profit.

What ever the intention is the effect is positive to the community so lets just happy on this thread and dont feel or make issues of negativity.

[Xabad]

This is another positive advancement for bitcoin, Belarus has a population of 9 million that and since bitcoin will be legal in their country we can expect more investors from them. This would really make the price of bitcoin to go higher in the next days. We reached $9,600 today, $10,000 is not impossible for this year.

[rjbtc2017]

Just Wow. Amazed by this news, just like other Countries who open on Cryptocurrency , It can also open and create the Country for Business Ventures and strengthen/create Business Relationship with other country just like what happened to Philippines-Singapore, Philippines is really a Bitcoin-friendly Country with a soft Regulation.
In the case of Belarus, My concern here is how Putin will react on this, Oh yeah Belarus is not under Russia but the Fact that Russia is one of the powerful Countries and also one of the most important partner of Belarus, President of Belarus will take time to consider whatever Putin says about Bitcoin. Well, Russia has a Love-Hate Relationship with Bitcoin so i do not know what will be his reaction regarding to this News. Anyway, I am hopeful for a good comeout for this CryptoCurrency Legalization.