As more and more countries move towards adopting cryptocurrencies, the president of Belarus Alexander Lukashenko has signed a decree that legalizes the free circulation of cryptocurrencies. The country’s hi-tech park is also set to maintain a record of crypto wallet addresses that engage in illegal activities. As a result of these moves, the country’s crypto investors and entrepreneurs can now trade freely without any fear of a ban on crypto or other restrictions.
The decree signed by Alexander Lukashenko formally gives the Belarus Hi-Tech park autonomy to circulate cryptocurrencies and maintain a ledger of crypto wallets. According to official statement, the decree intends to protect investors and make help authorities deal with crypto-related crimes. The Belarus of Council of Ministers now has three months’ time to implement the decree and oversee its implementation.
Belarus has always been open to cryptocurrencies and is among the handful of countries that call for crypto miners. In 2021, Alexander Lukashenko called on crypto miners and the government to make the most of the country’s spare power resources. While the president of Belarus is gaining prominence within the crypto circuits, citizens of the country alleged that he won his last term election by fraud. Nonetheless, he continues to be the supreme authority in the country. Belarus is now set to be one of the most crypto-friendly countries as a result of these policies. Cryptocurrencies were legalized in the country back in 2017, and president Alexander Lukashenko continues the trend of crypto adoption at a national level.