Belarus Could Soon ‘Legalize’ Bitcoin With State-Sanctioned Exchanges

Belarus is “expecting” to introduce legal physical exchange points for cryptocurrency in a landmark update to its finance laws.

Legal Crypto Exchange Outlets ‘Expected’ By Bank

The Eastern European country is currently awaiting a sign-off on a new package of laws by president Aleksandr Lukashenko. Once this is in effect, Bitcoin and altcoins could stand to become a bonafide part of the Belarusian economic landscape.

“We expect that in Belarus there will be a cryptocurrency exchange system operating for conversion to real money,” Sergey Lazyuk, a senior executive at local Raiffeisen Group institution Priorbank told media outlet Sputnik.

Thus, these points of exchange will be legal ones.

Belarus has had a broadly hands-off approach to cryptocurrency until the latest movements. Early warnings from authorities tended like many jurisdictions to warn against use of Bitcoin, citing legal complications.

While neighboring Russia has sought to exclude lay consumers from transacting in cryptocurrency entirely this year, Belarus could now diverge markedly, creating a supportive environment which appears to preempt greater public adoption…

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