Belarus legalizes blockchain mining, cryptocurrency transactions
President of the Republic of Belarus, Alexander Lukashenko, signed off on a Digital Economy Development Decree that legalizes blockchain mining and transactions with cryptocurrencies, as reported by Russian Interfax news agency, citing the press service of the Belarusian President.
“The main goal of the decree is to create conditions attractive to international IT-companies so that they bring their businesses to Belarus, open software development centers, and create breakthrough products that are competitive in the world’s technology market,” the President of Belarus’s press service said.
“The second goal of the decree is investments in the future. In particular, the decree accommodates the need for building a skilled IT workforce. The third goal is the implementation of cutting edge financial instruments and technologies into life. World leading economies are only testing the waters with this modern phenomenon. Belarus de-facto becomes the first state in the world that opens tremendous opportunities for the use of blockchain technology,” Lukashenko said.
Lukashenko also stated that he had supported all of the suggestions made by IT-entrepreneurs no matter how complex and challenging they were.
“We have very advanced individuals who already have their minds around this issue. I thought: we are blank on this subject today. If something good comes forth, it’s great. If there is a negative impact, I know whom to hold responsible,” Lukashenko said.