Market News: Belarus Cuts Taxes For Crypto Companies

Belarus government has passed new statutes focused partly on promoting the development of companies that incorporate cryptocurrency and blockchain.

In accordance with the state-owned media agency BelTA, on Dec. 22 Belarus President Alexander Lukashenko signed a digital economy development decree that constitutionally enshrines the use of rising technologies like blockchain. The decree also offers major tax incentives to interest business activity.

The decree, as summarized by a Belarus IT firm that supported the legislation, boosts development of the country’s High-Tech Park, an economic zone the government wants to present as a hub for tech and financial startups.