In Belarus legalize crypto-currencies

In Belarus legalize crypto-currencies

MINSK, Dec 22 — RIA Novosti. Belarus will become the first state in the world to legalize so-called smart contracts at the country level — this will occur after the entry into force of the decree “On the development of the digital economy”, said in a statement on the website of the Belarusian high technology Park (HTP), which is defined as the basic experimental platform for the implementation of pilot projects on operations with the tokens.

President of Belarus Alexander Lukashenko said earlier Friday that he had signed a decree “On the development of the digital economy”, which aims to create favorable conditions for the development of information technology, including the technology of the blockchain and cryptocurrency, and joining the Republic of world IT companies. The document has not yet officially published.

Smart legalization

“The new decree legalizes ICO, cryptocurrencies and smart contracts (a computer program for the conclusion and maintenance of contracts in the blockchain technology). Thanks to the adoption of this document Belarus becomes the first jurisdiction in the world with a comprehensive legal regulation of businesses based on blockchain technology,” — said in the message.

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The report notes that “by entering in the legal field of the Belarusian legislation smart contract and giving the right to exercise through its Commission or execution of transactions, Belarus becomes the first country in the world to legalize smart contracts at the country level”.

It also asserts that the decree does not set any restrictions and special requirements for operations for the creation, placement, storage, disposal, exchange of tokens, and activities of kryptomere and cryptoplasm.