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Belarus is going to become more liberal on ICOs than South Korea

13 December 2017 00:00, UTC
Belarus is going to become more liberal on ICOs than South Korea

According to the local Belarusian media, the President of the Republic of Belarus decided to back the most liberal variant of the draft aimed at improvement of the country’s fintech, which contradicts the previous reports that authorities are not going to get liberal on this matter. President Lukashenko stated that the world is changing fast and this discussion would have been unimaginable during the past years. While supporting the draft where at the very least, ICOs are allowed, he decided to remind that the state is going to remain a financial referee even after this brave new world starts.

Meanwhile in South Korea, one of the democratic countries of the first world, the ICOs were banned, which Don Tapscott called losing a historic opportunity, and unclear rumors about the ban of cryptocurrency exchanges circulate. However, most recent reports tell that authorities had actually chosen the strict regulation of said exchanges instead of total ban.

And in Russia, which is neither Belarus nor South Korea when it comes to its regime, the draft law on cryptocurrency is still being prepared. As specified by Anatoly Aksakov who leads the state parliament’s Financial Market Committee, the deadline set by the President is 1 July 2018, and in February of the same year, the Committee is going to review and discuss all legal framework projects. The overall tone of the Russian officials leads to believe that this country will:

  • allow ICOs;
  • allow cryptocurrency trading for qualified investors;
  • allow mining while taxing it;
  • not allow establishing cryptocurrency exchanges and issuing private currency
  • not allow payments in bitcoins.


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