The decree signed by the Belarusian president establishes legal frameworks and considerations for the use of cryptocurrencies at the local level, so ministers and government entities will have to make the changes effective in the next three months.
Belarusian President Alexander Lukashenko signed a decree endorsing the free circulation of cryptocurrencies such as Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. throughout the national territory.
Bielorrusia más amigable con las criptomonedas
This was announced by President Lukashenko’s press office in a statement published this week, in which he said that he had approved a decree titled “On the registration of virtual wallet a place where cryptocurrency users can store, send and receive digital assets. addresses and the circulation of cryptocurrencies”. where the measures and considerations for the free use of currencies in the country are exposed.
The document signed by Lukashenko reads:
“Belarus is steadily developing the legal field to regulate activities related to digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets and, unlike many other states, allows the free circulation of digital currencies.”
This document provides the legal basis for Belarus Hi-Tech Park, The bill also provides for the government to establish and administer a registry of cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. wallet addresses that may be associated with illegal activities. It also details the process and standards for the government to seize cryptocurrencies from criminals who make use of such assets for illicit acts.
De acuerdo con varios analistas, este decreto apunta más en la dirección de la protección a los inversionistas dentro del espacio de las criptomonedas, cerrando espacios para actividades que puedan constituir estafas y evitando pérdidas a todos aquellos interesados por actos que constituyan francos delitos.
The decree stipulates that within the next three months, the Belarusian Cabinet of Ministers shall take appropriate measures to give effect to this opinion.
Commitment to digital currencies
While Belarus has stated its intentions to become a friendly territory for cryptocurrency users, these actions by President Lukashenko are aimed precisely at laying the groundwork for a much fairer regulation, which will create a space where the crypto ecosystem can develop much more fully, including trading activities and cryptocurrency mining.
Let’s keep in mind that in September last year, the president asked the government to promote cryptocurrency mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. by making use of additional power infrastructure. Prior to this, the largest local bank, Belarusbank, habilitó un servicio de intercambio para monedas digitales.
Another noteworthy aspect is that the steps taken by Belarus would be creating a gap between the nation and its neighbors and regional partners in crypto matters. In this regard, the position of Russia stands out, which maintains an ambivalent stance towards these assets, although in recent comments President Vladimir Putin asked the government to enable the necessary ways to promote greater adoption of digital currencies, despite the refusal of the authorities of the Central Bank who opted more for prohibiting their use and marketing.
- Russia’s top officials failed to reach agreement on crypto regulation
- Belarus President Lukashenko: “Start mining cryptocurrencies. There is enough electricity.”
- Belarus could become the first country to mine Bitcoin with nuclear power
Version by Angel Di Matteo / DiarioBitcoin
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