Belarus Just Massively Cut Taxes On Cryptocurrencies

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One of the most interesting news buried by yesterday's FUD, and massive Bitcoin dip, came from Belarus: Aleksander Lukashenko, Belarus President, just signed a law which makes cryptocurrencies not only legal, but also exempt from taxes.

Here are some of the most important points, according to a report summarizing this law, published by an IT company:

  • a new type of tech park - actually called High Tech Park - will be established, as a hub for emerging startups and technologies
  • blockchain and cryptos will be favored, but there are also provisions for AI, or even development of "unmanned vehicle driving systems"
  • all these startups are exempt from taxes until January 2023

And here are the crypto-related gems:

  • the mining activity of individuals, tokens purchasing and sale shall not be considered entrepreneurial activity
  • tokens and revenues from operations with them shall not be subject to declaration by the individuals.
  • turnovers, profits (income, proceeds) from various operations with tokens are not recognised as taxable items until January 2023.

This news coms on a bigger trend in the zone, where, for instance, Estonia launched an e-residency program a few years ago and plans to issue a state-owned crypto currency.

The law should come into effect in 3 months.


I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me dragosroua@dragosroua.


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Belarus Just Massively Cut Taxes On Cryptocurrencies | Ecency