Tags: EU | Belarus | Digital Economy

Belarus Aspires to Become Leader in Digital Currencies

Friday, 22 December 2017 12:38 PM

MINSK, Belarus (AP) — The president of Belarus has offered generous tax benefits and other incentives to information technology firms to help turn the ex-Soviet nation into a leader in digital currencies.

President Alexander Lukashenko said his Friday decree is intended to create "unique competitive advantages to attract technologies, capitals and talented people from around the world."

The move would encourage the use of digital currencies and offer sweeping tax incentives to those who mine bitcoins.

The cryptocurrency has been notoriously volatile, with a significant crash every quarter and a particularly unstable week. Friday, it lost a quarter of its value in the past 24 hours.

Lukashenko's decree represents a sharp turn for the Soviet-style, government-controlled economy he's run since 1994 with little tolerance for dissent and most economic assets in state hands.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
The president of Belarus has offered generous tax benefits and other incentives to information technology firms to help turn the ex-Soviet nation into a leader in digital currencies.President Alexander Lukashenko said his Friday decree is intended to create "unique...
EU,Belarus,Digital Economy
132
2017-38-22
Friday, 22 December 2017 12:38 PM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved