Cryptocurrency information about Belarus
It is estimated that over 350 thousand people, 3.73% of Belarus’ total population, currently own cryptocurrency.(1)
The Republic of Belarus is famous for its favourable conditions for carrying out crypto-business for neighbouring countries, but it is not included in the top of the best. This is primarily due to the ban on paying for products or any services with cryptocurrency if the company is not an HTP resident. At the same time, transactions with tokens do not require VAT, which significantly improves the position of the crypto business in Belarus.(2)
Belarus has made a bold leap to encourage the use of cryptocurrencies. On December 21 2017, the President of Belarus signed into law “The Development of a Digital Economy” (“Law”). Since coming into effect on 22 March 2018, businesses based on blockchain technology have become legally regulated in the Republic of Belarus.(3)
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