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Belarus Legalizes Cryptocurrency Tax Free

Belarus Legalizes Cryptocurrency Tax Free. Belarus launches a five year tax exemption scheme for almost any activities related to cryptocurrency. Let us know in the comments section below.

Comparing Crypto Taxation Regulations Worldwide By Mainfinex Medium
Comparing Crypto Taxation Regulations Worldwide By Mainfinex Medium from miro.medium.com
The president of belarus, alexander lukashenko, has signed a decree which legalizes cryptocurrencies, initial coin offerings (icos), and smart contracts. Belarusian legislation allows natural and legal persons to mine, buy, sell, and exchange cryptocurrencies and tokens. For instance, htp inhabitants are excluded from income tax, property tax, land tax, and. Cryptocurrencies and icos become regulated in belarus, offering users tax and legal aid, so that they can create mining farms or exchange houses in the country. It's the only area in the nation that systematically gives tax cuts.

Many of the regulations in the decree extend only to legal entities operating on the territory of the high technologies park, a special economic zone.

The decree mentions that cryptocurrency can be traded only through cryptocurrency exchanges. Belarus president alexander lukashenko has signed the decree on digital economy development that legalizes ico, cryptocurrencies and smart contracts. Belarus aims to foster the private sector growth by legalizing the cryptocurrency industry. Belarus is a landlocked nation in eastern europe, situated between russia and poland. Belarus is taking an experimental approach to cryptocurrencies. The new decree will not only legalize all crypto related activities the htp also noted that the move to make smart contracts legal documents will position belarus as the world's first government to make smart contracts legal at a country level.

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