Belarus to Make the Most of It
Crypto Business Is Now Legal in Belarus
Alexander Lukashenko
Alexander Lukashenko has stated many times that his country needs to learn how to benefit from the development of the information and communication technologies. In December, the Belarusian leader said the country’s IT industry needs a new impulse. “Belarus should become attractive for talented people and successful companies,” he insisted, quoted by RIA Novosti. Belarus has what it takes to develop artificial intelligence, big data and blockchain technologies, he added.

Lukashenko said he had no intentions to slow down the progress but warned entrepreneurs they should not forget the state and its interests. “Let’s work together for this piece of land. I will guarantee you stability and non-interference,” he promised.

Belarusian authorities have registered unprecedented interest from crypto businesses since the signing of Decree №8. The government in Minsk announced that the number of new registrations with the High-Tech Park increased by about a quarter in 2018. Residents of the High-Tech Park now work in 67 markets around the world.

While the new regulations create favorable conditions for foreign investments and technological development, critics point out that Belarus may become just another offshore zone, a crypto-friendly one. The question when ordinary Belarusians will be able to receive their salaries in bitcoin and pay their bills with cryptocurrency, remains unanswered, for now at least.