Cryptocurrency activities will be legal and tax free in Belarus

[junoreactor]

Full article here
Well this was quite unexpected and very refreshing when more and more countries have a different position on cryptocurrencies right now.
(“Belarus becomes the first country in the world to legalize smart contracts at the country level”)

Such good news and smart position of the government there, willing to leave freedom to all citizens, and probably trying to attract more people and wealth in the country. Thumbs up.

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[smauni]

That's a very great news. Congratulations. I wish more country should do this. To become a better world we need  to accept block chain, Bitcoin etc. My country also not accepting Bitcoin yet. Hope that with 2019 my country will be come a block chain and crypto currency user too.

[piloder]

This is actually a big slap to south korea and china from a relatively small country.

Belarus is trying to pull new investment from foreigners which they likely get after this decree. More and more bitcoin trading platform might move to belarus as well as number of new companies will be registered there to run ICO without any legal headace.

I also like to move there and live there trading cryptocurrencies. 

[Pursuer]

wow, this was unexpected regarding taxation!

Activity such as mining, acquisition, alienation of tokens, carried out by individuals, are not entrepreneurial activities, and tokens are not subject to declaration. At the same time, until 2023, activities related to mining, the creation, acquisition and alienation of tokens are not taxed.

I could see the legalization and flexible taxation laws, which happens in a lot of countries including Japan, but to have NO tax on trading and mining and other stuff is really unexpected. looks like their government is not greedy!

this would help increase the adoption of cryptocurrencies in this small country. but it also may help creation of a lot of ICOs since that is also legal and tax free, I just hope they don't abuse this and don't start creating lots of bullshit ICOs there!

[dothebeats]

That's a very uplifting news to say the least, knowing that most countries that were formerly associated with heavy bitcoin trades are now considering to ban the exchanges and the use of bitcoin all in all in their nation. South Korea is on the verge of banning everything bitcoin-related and that's already hurting the market before a decision is even made. This news helps somehow in a positive way though let's admit it, the press would only cover the negative things and would disregard positive things happening around bitcoin especially when it's crashing real hard. Way to go, Belarus! Hope they don't change their minds sooner.

[JaredStein]

This is great news! Belarus has done something great.

[cx_primo]

Being legal on the country is very nice to much good when tax free. Because in phil. 15%, tax.

[Swenna]

This is a great news! Surely, when people hear about this news, it will attract more investors which will help the movement of the bitcoin's price in the market. We need more news like this, which install positive views towards bitcoin rather than FUDs which degrades and devalues bitcoin. Good work, Belarus!

[lukyanli]

This is good news for the existing investors as the price will rise and thus people can make huge profit by selling current bitcoins.

[mlawson71]

Some countries try to ban cryptocurrencies, others embrace them wholeheartedly. Hopefully as more time passes the former will decrease and the latter will increase.

[teejaymuna]

This news is highly welcome by me and I'm sure by other BTC faithfulls. More countries need to adopt BTC as it is the way to go. We should all expect more countries to follow suit this year and beyond.

[countryfree]

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

[SyGambler]

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

that's what I thought when I first read the subject , but it seems that the news are right
maybe they are trying to attract some foreign money to their country , cause such thing can attract many people to move to Belarus and maybe they will invest in the country

time will tell I guess , still can't figure this out

[Tony_Nguyen]

Full article here
Well this was quite unexpected and very refreshing when more and more countries have a different position on cryptocurrencies right now.
(“Belarus becomes the first country in the world to legalize smart contracts at the country level”)

Such good news and smart position of the government there, willing to leave freedom to all citizens, and probably trying to attract more people and wealth in the country. Thumbs up.

Great news. Hope more and more parties will duplicate

[Kprawn]

It is not a country with a big population {+/- 9,498,700} but it is a very good start. The GDP - $176 billion {2017} is also not very

large, but if they replace their local currency {BYN} with Bitcoin, then it might have a significant impact. 

It is also a good tourist destination with all of those historic buildings and churches, but I do not know how stable their politics are

with Russia. 

[Pan Troglodytes]

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

that's what I thought when I first read the subject , but it seems that the news are right
maybe they are trying to attract some foreign money to their country , cause such thing can attract many people to move to Belarus and maybe they will invest in the country

time will tell I guess , still can't figure this out

totally agree, but there is one more possible reason coming to mind: maybe there are some friends-of-mutual-friends-of-our-friends who want to earn some money, so they have just crafted the law to suit them. As they say: just follow the money and magically the unexplicable becomes quite comprehensible.

[deviltasha]

wow good news, especially in current situation.

[Photographer]

That's really amazing... if it true. In this case I guess that a lot of people may decide to migrate there at some point... or perhaps they will be forced as the West cracks down on cryptos.

[galkina]

This is really a  good news. It will encourage more people to invest in Bitcoins thus pumping the price.

[tomahawk9]

Definitely good news, especially amidst so many negative news about the acceptance and legality of Bitcoin/cryptocurrencies (looking at you Asia).
But i have to say, Belarus is a small country so I wouldn't be surprised to see this as a "marketing" plan to attract potential investors, as well as tourists, which is absolutely a smart move by the Belarus govt.
I'm interested to see how this is going to impact the view on cryptocurrencies in Europe, hopefully it'll have a positive effect.

[cryptohunter]

CFB will be pleased.

Korea and china will just be losing out long term anyway.

If you have US EU Japan and most of the other real 1st world countries onboard then i don't see that korea and china matter all that much.

[bit-freedom]

It is nice to hear this piece of good news after all the fuds. Nice move by the government. I hope the electricity is cheap to attract the miners to set up farms there.

[johnleo]

is there a chance for foreigners to open bank account there? if yes maybe soon their gov will get more capital instead of borrowing from other countries.  

[eternalgloom]

More countries should follow suit with regulations like this, it can't get more permissive than this.
That said, I don't think Belarus is such a nice country to live, it's quite restrictive and basically a dictatorship.

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

Yeah I was also wondering that, but the news seems to be true though.

[Caesar-Giulius]

Very nice, I will consider to move there as well if I am a crypto multi millionaire.

[bug.lady]

Very nice, I will consider to move there as well if I am a crypto multi millionaire.

You wouldn't want to move there mate. Do you know anything about Belarus other that they plan not to tax bitcoins? Well, I can tell you, they don't follow human rights, they have unbelivable bribe rates and their president is a dictator. They have a history of arresting oponents and holding them indefinitely.

[junoreactor]

Very nice, I will consider to move there as well if I am a crypto multi millionaire.

You wouldn't want to move there mate. Do you know anything about Belarus other that they plan not to tax bitcoins? Well, I can tell you, they don't follow human rights, they have unbelivable bribe rates and their president is a dictator. They have a history of arresting oponents and holding them indefinitely.

And it's not like Belarus is the only place in Europe, I mean just look at Malta, much better climate, ninety percent of residents are foreigners (many British) which makes it easy to communicate in English, open a company in Malta and they will tax 10% on your profits, not bad all things considered.
For people with no family obligation, there will always be places to move to if you get "rich" with your activity into crypto-currencies.

[deviltasha]

is there a chance for foreigners to open bank account there? if yes maybe soon their gov will get more capital instead of borrowing from other countries.  

Yes of course, country will benefit from this, hope other countries will follow the example.

[junoreactor]

is there a chance for foreigners to open bank account there? if yes maybe soon their gov will get more capital instead of borrowing from other countries.  

Yes of course, country will benefit from this, hope other countries will follow the example.

That's definitely the point of such a decision in my opinion, but primarily I believe Belarus government is looking to attract the Russian community (probably the biggest community of crypto traders in Europe).