The decree was signed by the Belarusian President Aleksandr Lukashenko last Friday and comes into force in three months. “The main goal of the document is to create an environment for leading IT companies to come to Belarus, open development centers and create products that would be popular in the world,” the president’s press service said.
Now, the people of Belarus can list and promote ICOs, create and sell cryptocurrencies, establish cryptocurrency exchanges and do other operations with digital money. Bitcoin and other virtual cash can now be given as a gift and inherited in Belarus.
All operations with cryptocurrencies are not considered a business activity. Those who want to participate in the Belarusian bitcoin haven, will not be obliged to reside in the country.
They will only have to register a firm in Belarus. However, if you want to launch a cryptocurrency exchange in the country, you must have at least $500,000 in a local bank.
During the next five years – until January 1, 2023 – many transactions with tokens will not be taxed. You will also not be obliged to pay VAT when transferring the ownership rights to other people, including foreign organizations. Read more from rt.com…
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