📣 Belarus🥔: self-employed individuals will be able to receive payments in cryptocurrency

📣 Belarus🥔: self-employed individuals will be able to receive payments in cryptocurrency

Through the use of officially authorized crypto banks, freelancers will be able to channel their income from the informal economy into the regulated financial system, according to new regulatory measures.

➡️ The First Deputy Chairman of the National Bank stated that blockchain technology, combined with state regulation, “ensures a level of transparency that traditional banks cannot match”.

➡️ According to the decree issued in mid-January, a crypto bank is defined as a joint-stock company authorized to combine operations involving digital assets with banking, payment, and other financial activities. To operate under this status, a company must be a resident of the High Technology Park (HTP) and be included in the special register of the National Bank.

➡️ It is expected that, in the near future, citizens will be able to make purchases in stores using cards issued by crypto banks. These institutions will handle the conversion of cryptocurrency into fiat currency at the moment of payment.

➡️Certain aspects of Belarusian crypto regulation could also be considered for application in the Russian market🇷🇺, such as crypto cards, which enable payments in the national currency, since direct cryptocurrency payments are prohibited.

#news #EasternEurope #crypto #Russia #regulation

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