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Belarus Has No Plans To Legalize Any Cryptocurrency

Authorities do not plan to allow payments in any cryptocurrency in Belarus in the neat future, the head of the National Bank revealed.

Pavel Kallaur shared the information with journalists at the opening of the international forum on banking information technologies “BankIT 2017” on 18 October.

Authorities do not plan to allow payments in any cryptocurrency in Belarus

“There are no plans to allow payments in cryptocurrencies for goods, works, services on the territory of Belarus,” Pavel Kallaur said.

At present Belarusian legislation does not regulate cryptocurrencies in any way.

On the other hand, a long-awaited new law that is supposed to turn Belarus into an IT-country pressuposes the introduction of crypto-currencies and tokens into civil transactions.

In addition, it should allow IT companies, residents of the Hi-Tech Park, to act as crypto-exchange offices and attract financing through ICO, use crypto-currencies and tokens in civil transactions.

See also: 5 Factors That Prove Belarus May Become The Leading Electric Car Nation In Eastern Europe

If adopted, the law will allow to legally regulate the use of cryptocurrencies and the activities of miners.

It will also lay the foundations for the creation of big mining farms in Belarus in future.