Belarus Signs ‘Super Liberal’ Blockchain Support Legislation

Belarus’ president Aleksandr Lukashenko has formally signed a “super liberal” bill signaling state support of Blockchain and cryptocurrency.

As local news outlet[1] and others report today, Lukashenko set the wheels of Belarus’ so-called “Digital Economy Growth” package rolling Monday.

The legislation aims to remove bureaucracy which could potentially hinder Blockchain’s implementation, and gives the go-ahead to a permissive environment for cryptocurrency exchange.

In addition, Belarus’ ‘HTP’ – a Silicon Valley-style tech haven Lukashenko created – will have privileges extending to attracting funding through ICOs and using cryptocurrency in civil circulation, Cointelegraph previously reported[2] last month.

“Today’s ratification of the digital economy by the president: the decree will be signed by the end of this year, and is a super liberal version with 100 percent absence of bureaucracy for supporting all forms of Blockchain adoption,” one IT industry insider close to the president wrote on Facebook[3] following completion.

The Digital Economy takes Belarus a step beyond its neighbors in the race to incorporate emerging disruptive technologies. Russia, for example, has had a problematic road[4] to adoption of cryptocurrency, with conflicting statements creating an uncertain picture of their future legal status.

Kazakhstan[5], on the other hand, has increasingly taken steps towards its stated goal of becoming the “Blockchain Singapore.”