Belarus President Signed A Decree That Legalizes Mining And Cryptocurrencies

[icoprofits]

President of Belarus Alexander Lukashenko signed the decree about the development of the digital economy, which pays much attention to the cryptocurrency payments development and blockhain technology. Thus, the decree establishes conditions for using of cryptocurrency and tokens, and also introduces tax credits for cryptocurrency transactions..

In accordance with a new document, legal entities-residents and non-residents of Belarus entitled to hold the tokens to create and host their own blockchain assets through the High-Tech Park residents, as well as to acquire, to dispose of digital assets and make with them other operations only through the cryptocurrency exchanges and specialized operators. Individuals have the right to carry out mining, to acquire, exchange and dispose of tokens for Belarusian rubles, foreign currency, electronic money, and also to give and bequeath them..

Mining, activities of cryptocurrency exchanges do not relate to banking activities. Experts draw attention to the fact that in developing the document, the High-Tech Park has collected the opinions of all residents, as well as IT-companies not included in the High-Tech Park..

In Belarus are creating some of the best conditions for it development of high-tech in General, businesses based on blockchain technology, and much more", - commented on the document the head of the High-Tech Park Administration Usevalad Yancheuski. It is also noted that the duration of the special legal regime of the High-Tech Park extended until 1 January 2049..

https://bit.news/eng/belarus-president-signed-decree-legalizes-mining-cryptocurrencies/

[Jet Cash]

Looks like a smart move, and Belarus is part of the Russian empire. Welcome to the new world order.

[HabBear]

Wow, that's cool! It's nice that a government is going to come out and formally support the mining and use of cryptocurrencies! Most countries have just been sitting back and watching - which means the activity is still legal, but to get the formal support of the government is the ultimate endorsement.

I'm fearful that if cryptocurrencies are seen as a threat the governnments and world powers will work to destroy them...we don't want that happening. Cryptocurrencies and fiat currencies can coexist!

Thanks for sharing this news!

[FlyingDutchman420]

"Thus, the decree establishes conditions for using of cryptocurrency and tokens, and also introduces tax credits for cryptocurrency transactions."

Wow! They are giving tax credits for cryptocurrency transactions while other countries are trying to ban cryptocurrencies. Good for them

[Kemarit]

"Thus, the decree establishes conditions for using of cryptocurrency and tokens, and also introduces tax credits for cryptocurrency transactions."

Wow! They are giving tax credits for cryptocurrency transactions while other countries are trying to ban cryptocurrencies. Good for them

This is really a welcoming news for every crypto lovers out there. And they are offering 5 years tax exemptions. I say that this is a way to attract everyone who's into crypto to go to Belarus start their ICO's or anything relate and enjoy the benefit of no tax. I'm not sure if this is a first for crypto market, but it really looks a good strategy on their behalf. Embracing is one thing, buy giving incentives is another. I think upcoming ICO's should take advantage of the Belarus government offers. We should all moved to Belarus now. LOL. On the other side, I'm thinking that maybe a mining farm is also a good choice to put up as well. I'm don't know how much is the electricity cost in Belarus, but if some big entities what's to explore that possibilities, I'm sure that the government will also love to see not just ICO's and tokens, but mining farms as well to be established in their country.

[BrewMaster]

"Thus, the decree establishes conditions for using of cryptocurrency and tokens, and also introduces tax credits for cryptocurrency transactions."

Wow! They are giving tax credits for cryptocurrency transactions while other countries are trying to ban cryptocurrencies. Good for them

which countries are trying to "ban cryptocurrencies"?

i have seen many attempts to ban ICOs since it is illegal to raise funds like this.
and i have seen a lot of concerns about usage of cryptocurrencies in illegal activities and also lots of concerns regarding taxes but i have never seen that many countries (2 or 3 to be exact) that ever tried actually banning them.

[Rahar02]

This decree will totally encourage people and financial industry in Belarus moving towards cryptocurrency and blockchain.
I have read it will be tax-free for 5 years, legalized cryptocurrencies, ICO, smart-contracts, crypto transactions and mining, seems like anything relates to cryptocurrency already has the green light, good to go, as long as it's still in a legal matter.
President Alexander Lukashenko explained the main goal of legalizing crypto transactions to create a suitable environment to attract attention from global IT companies to develop their business in Belarus. If you think twice about it, most people are willing to open their representative offices in Belarus which even better than Japan.

[MiiDoViic]

Ugh , finally some good news . Salut to belarus for making such an inspiring move . I really wish many more countries join the future and start to seriously considering the full regulation of cryptocurrencies ,How long do we have to wait :/ . We will see how it will impact the economie of belarus and hopefully to the best ,so other countries recognize how important cryptocurrencies are.

[mahibul49]

boom news for bitcoin.
bitcoin will go 100k very soon.just buy and hold.

[sopromat]

boom news for bitcoin. bitcoin will go 100k very soon.just buy and hold.

And how the fuck do you know that? That is the most non-sense post that i have seen today, are you even aware of the shit that you are posting or you are writing whatever comes to your mind?

And this is the kind of guys that are now in here.. incredible.

[stompix]

President Alexander Lukashenko announced on Friday that the decree “On the Development of Digital Economy” has been signed. He explained, “the main goal of the document is to create such conditions that global IT companies would come to Belarus, open their representative offices, development centers, and create popular products in the world.”

Don't get fooled by this.
It's just another dictator thinking that if he orders so, things will happen.
It's a decree...if he akes up on the wrong side of the bed tomorrow we will have another decree

People will not come to Belarus and start developing business there until other are solved.
And the biggest one is corruption. I've lived long enough close to our neighbors from the east to understand that they will do everything for money. What's black in the morning is going to be white by tea time if you pay the right price.

And honestly, do you believe that?
What if NK is going to launch a similar project?
Are you going to praise Kim Bit Con for this and move to NK?

Check the history of this guy and the decisions he made in the years that he was president from....1994!!!!
I'd rather trust Mark, Roger Ver or Jihan over Lukashenko

I say that this is a way to attract everyone who's into crypto to go to Belarus start their ICO's or anything relate and enjoy the benefit of no tax.

We should all moved to Belarus now. LOL.

How about before moving to Belarus you take a trip and see how things are going down there?
Crossing the border from Germany to Poland is like going back 10-20 years, going to Belarus and you're going to wonder if the dinosaurs are still alive...

[JerryJam]

Bravo Lukashenko. It's a bold decision. The President signed a decree on the development of digital technologies. This document aims to attract foreign IT companies and the development of new financial technologies. Legalization and mynning of virtual currencies will not be entrepreneurial activity and will not be taxed.

[Captimiz]

See, more and more governments are starting to adopt bitcoins. This adoption is great for price and also acts as a safety net preventing the value of bitcoins from sinking too deep. I estimate if even half the governments around the world were to adopt bitcoins, the price will become a lot more stable and the value of bitcoins could exceed $30,000. By adopt I don't just mean legalising it, but the government actually encouraging mining and even investing into bitcoins themselves. It's also a great way for government to have some permanent assets in case their own currency experiences rapid depreciation.

[soham]

That's a great move by a Russian confederation country. After japan, I believe they are the second country to legalize mining and crypto currency as a whole. I am sure that will provide much needed boost to the crypto market now. Also it will show the way to many other countries to provide a proper framework to the crypto currency users. Because there are some more countries who are openly debating on the crypto currency and still not sure whether to ban it or legalize it. I hope the decision taken by Belarus will lead the decision of many other countries. Positive news!

[bitart]

If I remember well, Russia was in the news this year September, when the Leningrad region has offered a place for miners. The place is perfect for the mining equipment, the weather is freezy in the summer too not only in winter and they have an old nuclear power plant they can kick start again to provide cheap energy for the miners... After, the situation has also changed

[LTU_btc]

It's surprising move by Belarus president - last European dictator. It's strange that he didn't made actions against Bitcoin and cryptocurrencies. No, they decided to support it, well done.
These news sounds very positive, it's interesting how much investors it will help to attract to Belarus. In past Belarus wasn't most friendly country for foreign investors in general, so now they have to build their reputation.
I wish that my country would introduce something similar what Belarus did. But it's not likely to happen :/

[bolsheada]

President Alexander Lukashenko announced on Friday that the decree “On the Development of Digital Economy” has been signed. He explained, “the main goal of the document is to create such conditions that global IT companies would come to Belarus, open their representative offices, development centers, and create popular products in the world.”

Don't get fooled by this.
It's just another dictator thinking that if he orders so, things will happen.
It's a decree...if he akes up on the wrong side of the bed tomorrow we will have another decree

People will not come to Belarus and start developing business there until other are solved.
And the biggest one is corruption. I've lived long enough close to our neighbors from the east to understand that they will do everything for money. What's black in the morning is going to be white by tea time if you pay the right price.

And honestly, do you believe that?
What if NK is going to launch a similar project?
Are you going to praise Kim Bit Con for this and move to NK?

Check the history of this guy and the decisions he made in the years that he was president from....1994!!!!
I'd rather trust Mark, Roger Ver or Jihan over Lukashenko

I say that this is a way to attract everyone who's into crypto to go to Belarus start their ICO's or anything relate and enjoy the benefit of no tax.

We should all moved to Belarus now. LOL.

How about before moving to Belarus you take a trip and see how things are going down there?
Crossing the border from Germany to Poland is like going back 10-20 years, going to Belarus and you're going to wonder if the dinosaurs are still alive...

I understand your concerns but you mixing things that you've heard in the news with bad expectations and it's not the right way to find the truth.
How about some cold hard facts.
So called "legalization of bitcoin" in Belarus came as a part of Decree about development of digital economy that was lobbied by the group of progressive IT businessmen and lawyers who understand the problems of IT industry better than other, because work with this problems every day. Decree extended tax benefits of High Technologies Park (HTP or PVT in Belarusian) that 've been working since 2005 to 2049. In 2017 the total revenue of the companies in HTP will achieve $1bln. it means that a lot of companies are working there for 8-12 years paying just 9% tax, instead of whatever 20-30-35% they could pay in other regions, using brains of top programmers that created Viber,  WoT, Juno, MSQRD and many others, paying them local pay, instead of Silicon Valley pay. System is stable and working. Revenues went up 20-fold since 2005 and now with new Decree they extended the term of benefits till 2049, added new types of activity to what's residents of HTP allowed to specialize in including cryptocurrencies, self-driving vehicles, biotech, fintech, AI, etc. All the buzz-words that on the internets today, you can develop in HTP under low tax. Minsk is not called the capital of European AI for nothing. There's over 70 companies that develop AI projects, if you interested check the list:
https://docs.google.com/spreadsheets/d/1bppG1b3ey3PFCYiPTy7URNAk0DnHT5J_XVj_MZeaBkM/edit#gid=0
https://dev.by/ckeditor_assets/pictures/29060/content_belarus_ai_landscape_21-09-17-01.jpg

Smart people making profits already, they don't believe "news" about dictators, why should you?

I agree with your advice though, don't take news for granted, come to Minsk and see things for yourself. You can do so easily now, with visa-free 5 days trips allowed for citizens of 80 countries, including Germany and Poland.

[Falgorn]

"Thus, the decree establishes conditions for using of cryptocurrency and tokens, and also introduces tax credits for cryptocurrency transactions."

Wow! They are giving tax credits for cryptocurrency transactions while other countries are trying to ban cryptocurrencies. Good for them

which countries are trying to "ban cryptocurrencies"?

i have seen many attempts to ban ICOs since it is illegal to raise funds like this.
and i have seen a lot of concerns about usage of cryptocurrencies in illegal activities and also lots of concerns regarding taxes but i have never seen that many countries (2 or 3 to be exact) that ever tried actually banning them.

On December 18, when bitkoyne was still at the peak of its value of about $ 20,000, bitkoyn and other crypto-currencies were completely banned in Kuwait. Apparently, in this country, the inflation of bitcoins as a financial bubble was frightened.
      As for the legalization of the crypto currency in Belarus, it was really an unexpected step on the part of President Lukashenko. Now Belarus has become the most attractive country for mining and I think that the Chinese will take advantage of this opportunity, especially since the climate there is suitable for this.

[bitcoinveda]

Russian Speaking Country Belarus and Ukraine and Russia legalizing Bitcoin is good move Russian market is competing with Japan and South Asia market

[stompix]

I understand your concerns but you mixing things that you've heard in the news with bad expectations and it's not the right way to find the truth.

bla bla bla

 Minsk is not called the capital of European AI for nothing. There's over 70 companies that develop AI projects, if you interested check the list:

bla bla bla

I agree with your advice though, don't take news for granted, come to Minsk and see things for yourself.

I've lived for 30 years  near the border with Belarus.
I know how life is there I've been to Minsk about twenty times.
And probably you know why, because with a 100 euro bill you're king there.

No man, I know how Belarus is, I know guys that escaped from there and managed to get EU citizenship in Poland , Latvia or Lithuania.

Don't give that bs of Minsk being the capital of European AI.
It's a poor, highly corrupted country, with the only goal of its citizens to get out of there.

You gave me some links that would probably make anybody laugh.
Your high tech park in Minsk host barely 20 000 low paid tester jobs , that's nothing and not comparing to western Europe, comparing to the poorest of all.
Romania has a three times as much and Bulgaria is not lagging behind.

Capital of europe?
Take a look as WISTA or Paris-Saclay and none of the developed countries have only one center.

The only chance Belarus has is that maybe Lukashenko will sign a decree of him being exiled forever from the country.