Belarus expected to legalize cryptocurrenciesNovember 24, 2017 - 14:38 AMT PanARMENIAN.Net - A draft decree on the Belarusian High-Tech Park which would legalize cryptocurrencies is awaiting the president of Belarus to sign into law. Among other provisions, if the law is passed, cryptocurrencies and initial coin offering (ICO) tokens will be approved for circulation. In addition, exchanges can trade rubles for cryptocurrency, ICOs can be used for financing, and mining will also be allowed by law in Belarus, Bitcoin's website says. Belarus is a landlocked country in Eastern Europe, located between Poland and Russia. The country has a population of approximately 9.5 million. In 2005, Belarus president Alexander Lukashenko signed a decree to begin an initiative to create an IT-focused special economic zone, similar to Silicon Valley in the U.S. The zone is referred to as the High-Tech Park (HTP). It is the only place in the country that provides tax benefits on a systematic basis. For example, HTP residents are exempt from income tax, value-added tax, land tax, and property tax. In the summer of this year, a decree was prepared in order to facilitate the inflow of international investments and incorporate new technologies and innovations in the HTP. This draft decree, which has already been presented to Lukashenko to sign into law, includes provisions for cryptocurrencies and ICOs at the legislative level. The decree will introduce “into the legal field not only cryptocurrencies but also the activities of the so-called miners,” the publication detailed, noting that it will then be “possible to legally create major cryptocurrency mining centers in Belarus.” Given the surplus and low cost of electricity in the country, experts believe that crypto mining “will create additional demand for electricity on a countrywide scale,” the news outlet conveyed. Belarus is also about to have its first centralized crypto exchange. Set to launch in the spring of next year, this exchange “will be the first in the territory of the Customs Union (Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan).” Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |