Belarus president signs decree to support free circulation of crypto
Belarusian President Alexander Lukashenko has signed a decree affirming the country’s formal support of free circulation of cryptocurrencies like Bitcoin (BTC).
Lukashenko’s press office announced Monday that the president has signed a decree “On the register of virtual wallet addresses and the circulation of cryptocurrency.”
The document provides a legal basis for Belarus Hi-Tech Park to establish and manage a register of crypto wallet addresses used in illegal activities. The decree document specifically details the process and standards for seizing cryptocurrency from criminals by the government.
The decree intends to protect crypto investors from potential losses and to “prevent unintentional involvement in activities prohibited by law.”
The announcement points out that Belarus has taken a friendly stance on cryptocurrencies:
According to the document, Belarus’ Council of Ministers is required to adopt appropriate measures to enforce the decree in three months following its publication.
Lukashenko’s latest move in the Belarusian crypto regulation ecosystem reaffirms the country’s commitment to supporting cryptocurrency development, including crypto mining and trading. In September 2021, Lukashenko called on the government to mine crypto using spare power infrastructure. Previously, Belarus’ largest financial institution, Belarusbank, reportedly launched a crypto exchange service.
While Belarus has apparently been moving towards cryptocurrency adoption, some of its key economic and political partners were falling behind on crypto regulation.
Related: Russian Ministry wants to legalize Bitcoin mining in specific areas
Russia, which adopted its “On Digital Financial Assets” law in January 2021, maintains regulatory uncertainty
Read more on cointelegraph.com
