Belarus: legalises crypto-currencies and exempts from tax for 5 years !

The President of the Republic of Belarus, Alexander Lukashenko, to sign a decree that legalizes crypto-currencies, Initial Coin Offeringings (ICO) as well as smart contracts. All revenues generated by cryptocurrency or mining transactions will be tax free for the next five years.

Legalization of cryptocurrencies and ICOs transactions !

Alexander Lukashenko, the President of the Republic of Belarus, announced that the decree on "the development of a digital economy" had been signed.

"This document aims to create favorable conditions for IT companies to set up offices in Belarus, to open their representative offices, their development centers, and to create products that will be popular in Belarus. around the world, "he said.

The signing of this decree must in particular make it possible to legalize cryptocurrencies, ICOs and smart contracts.

Citizens will have the opportunity to store, convert, donate, bequeath their cryptocurrency, but also to exchange them for money.

Therefore, it will not be necessary to declare the profits and revenues generated by cryptocurrencies that will be exempt from tax until January 1, 2023.