New Capital Of Cryptocurrency Is Now Belarus

Belarus has designed a decisive jump to promote the apply of cryptocurrencies. On December 21 2017, the President of Belarus signed the law “The Development of a Digital Economy” (“Law”). Due to going into force on 22 March 2018, industries based on blockchain innovation technology have turned officially controlled in the Republic of Belarus.

The new law determines the major regulations of cryptocurrency business and clarifies the importance of the terms cryptocurrency, virtual wallet, mining, token, and its other basic idea concepts. Bitcoin is identified as a electronic sign (token), utilized in world circulation as a general methods of exchange. Among other terms, the law allows private individuals and legal entities to seize tokens, to purchase and exchange tokens, and to hold other carried activities, subject to their registration in the rationalization center named as High Tech Park Belarus (HTP).

By accepting this law, Belarus has turned into the most modern country in Eastern Europe in circle of regulating cryptocurrencies. Paired with the stimulus available, it is also one of the largest profitable jurisdictions for cryptocurrency-associated businesses.

Customers concerned in making an Initial Coin Offering (“ICO”), mining, and other cryptocurrency associated activities under a obvious and foreseeable legal scope are advised to be obtaining HTP residency in Belarus. Our group stands prepared to ensure support with a full number of services in this dynamic country.