The President Of Belarus empowered the cryptocurrency by signing a decree, recently. The aim is to boost cryptocurrency circulation freely and to allow the Belarusian legal regime to examine suspicious crypto wallets.
Why Belarus has shown a positive stance on Cryptocurrency?
With the evolving physical world into the digital world, Belarus is also shifting. By this friendly move of President Of Belarus, it has proved that Belarus is fulfilling its promise. The promise of backing cryptocurrency formation in its country, as well as crypto mining and trading.
On Monday Belarus president’s press office declared that president Alexander Lukashenko has finalized a decree titled “ On the register of virtual wallet addresses and the circulation of cryptocurrency.”
That means that he officially approved the official support to the legal regime of Belarus high-tech park. As well as allowed liberty to cryptocurrency circulation in the country.
Additionally, the document provides the legal basis for the hi-tech park. To develop, and regulate a register of crypto wallet addresses used in unlawful activities.
Furthermore, the document dubbed,
“At the same time, this requires constant monitoring of the situation. And, if necessary, supplementing and clarifying regulatory norms.”
The aim behind the decree is to protect the crypto participants from major losses. And to restrain unintentional involvement in activities that are unlawful.
The announcement further stated that Belarus is bullish on cryptocurrencies,
“Belarus is consistently developing the legal field for regulating activities related to digital assets, and, unlike many other states, allows free circulation of digital currencies.”
Final Thoughts:
The President of Belarus seems motivated and bullish about cryptocurrency. Hence he has signed a decree recently, to regulate cryptocurrency in Belarus independently. As well, he has allowed its legal regime Hi-tech park, to stay vigilant on the crypto wallets to track illicit activities.
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Disclaimer: We are not experts or financial advisors. Kindly, take your decisions at your own risk.
