Belarus President Signs the New Crypto-Friendly Decree

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Belarusian President Alexander Lukashenko has signed a proclamation publicising his support for the free flow of cryptocurrencies like Bitcoin.

According to Lukashenko’s press office, the president has signed a decree titled “On the registry of virtual wallet addresses and the circulation of cryptocurrencies.”

The press staff at Hi-Tech Park told Bloomberg that “restrictive alterations to the existing regulatory structure are not currently contemplated.”

Lukashenko signed the decree to protect investors, and the Council of Ministers will implement it within three months after its publication.

According to the official announcement:

“Belarus is consistently developing the legal field for regulating activities related to digital assets, and, unlike many other states, allows the free circulation of digital currencies.”

Furthermore, according to the paper, this necessitates ongoing monitoring of the situation and, if necessary, augmenting and clarifying regulatory rules. 

To exclude examples of shadow financing of banned activity, for example.

The agreement establishes a legal framework for Belarus Hi-Tech Park to create and maintain a database of cryptocurrency wallet addresses used in criminal activity.

The directive spells out the steps and criteria for the government seizing bitcoin from offenders.

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Shambhavi Soni
Shambhavi Soni

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