Early rumors became true, Crypto Business Is Now Legal in Belarus

[anushkasachith888]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

[Wipro]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

Great news dude more adaption upcoming. I got a mail from the Purse.io team states that they gonna make the bitcoin purchase option in various countries bro. We may find the people from the various countries will accept the bitcoin soon followed by Japanese government.

If this thread has been created on the legal section means it may be 100 percent perfect option for this dude.
Thanks for sharing info to the forum members mate, keep up your good work.

[Hydrogen]

Very interesting. Seems like good news. Am I correct in thinking russia may be utilizing Belarus as a proxy to testbed legalized and deregulated crypto. Perhaps similar to how california became a testbed for legalized marijuana in the united states? Or would be it fairer to say this is motivated moreso by money and potential tax revenues? Just as legalized marijuana represents a massive increase in tax income for the state, so might legalized crypto perhaps have an identical effect?

The proposed measures and changes by central banks to "combat terrorism" and "prevent money laundering" are also very interesting to me. It is public knowledge that banks like HSBC have laundered money for terrorists for the past 10-20 years without any real changes being made to prevent them from doing it. I wonder what the details of those changes are, and why they feel the timing should be now, rather than decades ago when this was a more dire and pressing issue?

[Koloulinger]

i think is good news
maybe all china exchanger if in there not accepted can move office to belarus
i hope bitcoin price can incraese

[richardsNY]

Am I correct in thinking russia may be utilizing Belarus as a proxy to testbed legalized and deregulated crypto. Perhaps similar to how california became a testbed for legalized marijuana in the united states? Or would be it fairer to say this is motivated moreso by money and potential tax revenues? Just as legalized marijuana represents a massive increase in tax income for the state, so might legalized crypto perhaps have an identical effect?

That was exactly my thought. It's clear that both countries are well connected on political level, where I would even say that Belarus is somewhat of Putin's toy. From that perspective it may actually be a proxy testbed, all to find out what economical consequences a crypto friendly approach actually may have. If it turns out to be a harming factor, Russia can just choose to ignore crypto and move on, where if it's actually an economical stimulating move, Russia may even follow the same path. Both countries suffer from economical difficulties, even though Putin constantly keep playing cool game and denies the obvious problems. Obviously, tax income is a welcome side effect that this new emerging industry offers, and is likely the main motive in the end.

[kwarto]

simply amazing! this is a wonderful news that could somehow boost up the price in the market.  a news like this should be known and spread to every corner of crpyto to help ease the anxiety created by the decrease of price.
good job to you!

[player514]

Very interesting. Seems like good news. Am I correct in thinking russia may be utilizing Belarus as a proxy to testbed legalized and deregulated crypto. Perhaps similar to how california became a testbed for legalized marijuana in the united states? Or would be it fairer to say this is motivated moreso by money and potential tax revenues? Just as legalized marijuana represents a massive increase in tax income for the state, so might legalized crypto perhaps have an identical effect?

The proposed measures and changes by central banks to "combat terrorism" and "prevent money laundering" are also very interesting to me. It is public knowledge that banks like HSBC have laundered money for terrorists for the past 10-20 years without any real changes being made to prevent them from doing it. I wonder what the details of those changes are, and why they feel the timing should be now, rather than decades ago when this was a more dire and pressing issue?

Ooh. That would be really interesting if Russia is involved in this. Might fling the United States and China back into the mix soon. I'm thinking of something similar to the Cold War's technological advances. Under Trump, we might be seeing a different path, but I think it's possible. I'm not sure if California was necessarily "transformed" into a testbed, but the people did vote for it, so that's just what ended up happening. We might be overlooking the Russia/Belarus thing too.

To address your second paragraph, big banks always have ins with the governments.

[paymentbox]

This is really great news for this space. IMO, the technology isn't fully there, but I think many countries need to learn how to benefit from the development of the information and communication technologies.

[BitHodler]

Both countries suffer from economical difficulties

It becomes more clear by the month what countries are looking to allow crypto to deploy itself within their borders, and these are always countries with weaker economies, and let the same apply to Belarus, and even Russia.

Time will tell how these countries will benefit, but just looking at the very small size of the Belarusian economy, even a slight form of success might lift that economy to levels it couldn't reach without crypto.

Belarus's GDP is currently estimated to hover around the $50 billion mark, which is significantly lower than its peak a few years back, so they definitely can use that economical impulse, where crypto will definitely help out.

[Reatim]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

What early rumors? If I'm not mistaken, they are offering 5 years tax free for companies that are going to setup some crypto related business in their country so I'm not totally surprise by their moved.

But the thing, this kind of news should somewhat be high-lighted as compare to negatives news like the Mt. Gox trustee offloading or social media giants banning crypto ads.

[buwaytress]

Am I correct in thinking russia may be utilizing Belarus as a proxy to testbed legalized and deregulated crypto. Perhaps similar to how california became a testbed for legalized marijuana in the united states? Or would be it fairer to say this is motivated moreso by money and potential tax revenues? Just as legalized marijuana represents a massive increase in tax income for the state, so might legalized crypto perhaps have an identical effect?

That was exactly my thought. It's clear that both countries are well connected on political level, where I would even say that Belarus is somewhat of Putin's toy. From that perspective it may actually be a proxy testbed, all to find out what economical consequences a crypto friendly approach actually may have. If it turns out to be a harming factor, Russia can just choose to ignore crypto and move on, where if it's actually an economical stimulating move, Russia may even follow the same path. Both countries suffer from economical difficulties, even though Putin constantly keep playing cool game and denies the obvious problems. Obviously, tax income is a welcome side effect that this new emerging industry offers, and is likely the main motive in the end.

Hmm. Not sure if Belarussians would take too kindly to that. The way I see it, this is just part of a trend by Eastern European nations to diversify economy, and they're always keen to embrace fintech, as can be evidenced by the late 90s and last decade's expansion in financial IT.

Russia wouldn't need a proxy in former Soviet bloc countries, I feel. They already are trialling several initiatives in various economic regions within Russia. Stalingrad with their new nuclear station this year already promising to supply crypto miners and industries, comes to mind.

[yojodojo21]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

There are so many news appearing in the forum saying that the adaptation of idea of crypto currency is now initiating different denomination, but the problem is the price (red days) as what is seen in the market. However, this can be a good state because the market is in dip mode or discount mode for future use. As soon as possible if or maybe.   So, while cheering ourselves with good News's time to buy crypto, depends on what you can.

[player514]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

There are so many news appearing in the forum saying that the adaptation of idea of crypto currency is now initiating different denomination, but the problem is the price (red days) as what is seen in the market. However, this can be a good state because the market is in dip mode or discount mode for future use. As soon as possible if or maybe.   So, while cheering ourselves with good News's time to buy crypto, depends on what you can.

While I do agree with you when you say that this is a good time to buy as the market's dipped quite a bit, I don't think there's any guarantees on how the future might treat Bitcoin. It's likely that even if more countries do start accepting bitcoin, we might not see much of a price change until a major country accepts it and sets up for other countries to implement blockchain and crypto into their lifestyles. I think there could be a wider support of Bitcoin and crypto overall if people had a bit more of an understanding of the technology behind it as well.

[richardsNY]

It becomes more clear by the month what countries are looking to allow crypto to deploy itself within their borders, and these are always countries with weaker economies, and let the same apply to Belarus, and even Russia.

It makes sense because the less you have, the less there is for you to lose, which is why the more established economies are just waiting on the sideline to see how others are doing. In other words, countries with less developed economies are more likely to adapt to crypto or basically anything that potentially might bring in the growth they need. I am interested in seeing how Belarus progresses in the coming months, because it might also end up in a big disappointment -- what's this legal status worth if you still have a very unstable government to deal with? It's not like you are settling yourself in a well civilized country. I obviously hope everything goes well for them, but I wouldn't take anything for granted....

[zhanyiguai261315]

Digital cryptographic currency will have legal status in many countries in the future!

Now, because of the lack of regulation and legal status of cryptocurrency, many countries are worried about the loss to investors, so it is forbidden!

[Quidat]

It becomes more clear by the month what countries are looking to allow crypto to deploy itself within their borders, and these are always countries with weaker economies, and let the same apply to Belarus, and even Russia.

It makes sense because the less you have, the less there is for you to lose, which is why the more established economies are just waiting on the sideline to see how others are doing. In other words, countries with less developed economies are more likely to adapt to crypto or basically anything that potentially might bring in the growth they need. I am interested in seeing how Belarus progresses in the coming months, because it might also end up in a big disappointment -- what's this legal status worth if you still have a very unstable government to deal with? It's not like you are settling yourself in a well civilized country. I obviously hope everything goes well for them, but I wouldn't take anything for granted....

I have observed this thing too on where I do found out that countries which economy isn't really that good are the ones who do decide to adopt crypto because they do able to see the potential that it can really gave some changes might not be an assurance progress but still a worth thing to try.For developed countries then their own views will be on the different side which they rather focus more on banning it.

[tuikindu]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

The good news is that it's never too late to legalize bitcoin, and I'm sure there will be more countries joining it.

The hope is that the news of the legalization of Russia will bring the price of the whole encryption market back up.

[ALOIS]

This is very good news! Belarus became the first country in the world which legalized smart contracts and  mining. Rumors about a large project regarding the cryptocurrency, which is being prepared in the highest echelons of power, went around for almost a year. And, as it turned out, the reality even exceeds expectations - everything that the participants of the cryptocurrency market of Belarus has dreamed of has come to pass.

[Dragon5]

They are developing a special area for designing new IT products. This small country is heading for new technologies, adapting existing and creating new. It has become its number one priority. That's why cryptocurrencies are also a part of the programme

[just_Alice]

Earlier we heard that Belarus going to legalize bitcoin and cryptocurrency in Belarus . and now the news confirmed. here is the news link https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/

Wow, that's very good and unexpected news, more and more countries are moving towards BTC legislation. I wonder, how people can still say that it's the end of Bitcoin, when even Belarus legalized it?