Belarus. 5-year tax-free to Cryptocurrencies, ICOs, and Smart Contracts: The wave of the future?
President Alexander Lukashenko introduced the reform through a Decree on the "Development of Digital Economy," signed in December 2017. Shortly after, the country experienced a significant rise in the number of IT companies operating within their territory --even before the regulation entered into force.
Belarus' approach contrasts with most of the experiences that we discussed in our Roundtable. For instance, tax exemptions apply to mining and exchange operations. Even more notable, smart contracts are fully enforceable.
It is still too soon to evaluate the overall impact of this reform since the Decree just entered into force on March 28, 2018. However, as detailed in this #WRR, the positive reaction it has generated should help us better understand the industry's needs.
Is Belarus' regulation the wave of the future?
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Shared on April 24, 2018
Tags: Belarus, ICO, Cryptocurrencies, Smart Contracts, Tax Incentives