Cryptocurrency activities will be legal and tax free in Belarus

junoreactor

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Quote from: deviltasha on January 22, 2018, 05:07:27 AM

Quote from: johnleo on January 19, 2018, 01:34:17 PM

is there a chance for foreigners to open bank account there? if yes maybe soon their gov will get more capital instead of borrowing from other countries.

Yes of course, country will benefit from this, hope other countries will follow the example.

That's definitely the point of such a decision in my opinion, but primarily I believe Belarus government is looking to attract the Russian community (probably the biggest community of crypto traders in Europe).

deviltasha

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Quote from: johnleo on January 19, 2018, 01:34:17 PM

is there a chance for foreigners to open bank account there? if yes maybe soon their gov will get more capital instead of borrowing from other countries.

Yes of course, country will benefit from this, hope other countries will follow the example.

junoreactor

full member

Activity: 196

Merit: 109

Quote from: bug.lady on January 19, 2018, 02:56:52 PM

Quote from: Caesar-Giulius on January 19, 2018, 02:04:12 PM

Very nice, I will consider to move there as well if I am a crypto multi millionaire.

You wouldn't want to move there mate. Do you know anything about Belarus other that they plan not to tax bitcoins? Well, I can tell you, they don't follow human rights, they have unbelivable bribe rates and their president is a dictator. They have a history of arresting oponents and holding them indefinitely.

And it's not like Belarus is the only place in Europe, I mean just look at Malta, much better climate, ninety percent of residents are foreigners (many British) which makes it easy to communicate in English, open a company in Malta and they will tax 10% on your profits, not bad all things considered.
For people with no family obligation, there will always be places to move to if you get "rich" with your activity into crypto-currencies.

bug.lady

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Large scale, green crypto mining ICO

Quote from: Caesar-Giulius on January 19, 2018, 02:04:12 PM

Very nice, I will consider to move there as well if I am a crypto multi millionaire.

You wouldn't want to move there mate. Do you know anything about Belarus other that they plan not to tax bitcoins? Well, I can tell you, they don't follow human rights, they have unbelivable bribe rates and their president is a dictator. They have a history of arresting oponents and holding them indefinitely.

Caesar-Giulius

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Buy, sell and store real cryptocurrencies

Very nice, I will consider to move there as well if I am a crypto multi millionaire.

eternalgloom

legendary

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More countries should follow suit with regulations like this, it can't get more permissive than this.
That said, I don't think Belarus is such a nice country to live, it's quite restrictive and basically a dictatorship.

Quote from: countryfree on January 19, 2018, 12:03:10 PM

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

Yeah I was also wondering that, but the news seems to be true though.

johnleo

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is there a chance for foreigners to open bank account there? if yes maybe soon their gov will get more capital instead of borrowing from other countries.

bit-freedom

sr. member

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Merit: 256

It is nice to hear this piece of good news after all the fuds. Nice move by the government. I hope the electricity is cheap to attract the miners to set up farms there.

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

CFB will be pleased.

Korea and china will just be losing out long term anyway.

If you have US EU Japan and most of the other real 1st world countries onboard then i don't see that korea and china matter all that much.

tomahawk9

hero member

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Merit: 994

Cats on Mars

Definitely good news, especially amidst so many negative news about the acceptance and legality of Bitcoin/cryptocurrencies (looking at you Asia).
But i have to say, Belarus is a small country so I wouldn't be surprised to see this as a "marketing" plan to attract potential investors, as well as tourists, which is absolutely a smart move by the Belarus govt.
I'm interested to see how this is going to impact the view on cryptocurrencies in Europe, hopefully it'll have a positive effect.

galkina

jr. member

Activity: 84

Merit: 3

This is really a good news. It will encourage more people to invest in Bitcoins thus pumping the price.

Photographer

member

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That's really amazing... if it true. In this case I guess that a lot of people may decide to migrate there at some point... or perhaps they will be forced as the West cracks down on cryptos.

deviltasha

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Merit: 2

wow good news, especially in current situation.

Pan Troglodytes

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Quote from: SyGambler on January 19, 2018, 12:16:43 PM

Quote from: countryfree on January 19, 2018, 12:03:10 PM

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

that's what I thought when I first read the subject , but it seems that the news are right
maybe they are trying to attract some foreign money to their country , cause such thing can attract many people to move to Belarus and maybe they will invest in the country

time will tell I guess , still can't figure this out

totally agree, but there is one more possible reason coming to mind: maybe there are some friends-of-mutual-friends-of-our-friends who want to earn some money, so they have just crafted the law to suit them. As they say: just follow the money and magically the unexplicable becomes quite comprehensible.

Kprawn

legendary

Activity: 1904

Merit: 1073

It is not a country with a big population {+/- 9,498,700} but it is a very good start. The GDP - $176 billion {2017} is also not very

large, but if they replace their local currency {BYN} with Bitcoin, then it might have a significant impact. Roll Eyes

It is also a good tourist destination with all of those historic buildings and churches, but I do not know how stable their politics are

with Russia. Huh

Tony_Nguyen

member

Activity: 238

Merit: 10

Quote from: junoreactor on January 19, 2018, 04:14:43 AM

Full article here
Well this was quite unexpected and very refreshing when more and more countries have a different position on cryptocurrencies right now.
(“Belarus becomes the first country in the world to legalize smart contracts at the country level”)

Such good news and smart position of the government there, willing to leave freedom to all citizens, and probably trying to attract more people and wealth in the country. Thumbs up.

Great news. Hope more and more parties will duplicate

SyGambler

legendary

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guess who's back

Quote from: countryfree on January 19, 2018, 12:03:10 PM

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

that's what I thought when I first read the subject , but it seems that the news are right
maybe they are trying to attract some foreign money to their country , cause such thing can attract many people to move to Belarus and maybe they will invest in the country

time will tell I guess , still can't figure this out

countryfree

legendary

Activity: 3038

Merit: 1047

Your country may be your worst enemy

Belarus?
Belarus?

https://en.wikipedia.org/wiki/Human_rights_in_Belarus

Belarus is probably the most fucked up place in Europe. Who can believe the people there could be free to use cryptos, when there is no freedom of the press, nor freedom of speech?

teejaymuna

newbie

Activity: 238

Merit: 0

This news is highly welcome by me and I'm sure by other BTC faithfulls. More countries need to adopt BTC as it is the way to go. We should all expect more countries to follow suit this year and beyond.

mlawson71

newbie

Activity: 19

Merit: 0

Some countries try to ban cryptocurrencies, others embrace them wholeheartedly. Hopefully as more time passes the former will decrease and the latter will increase.

Topic: Cryptocurrency activities will be legal and tax free in Belarus (Read 176 times)