Belarus Considers Digital Economy a Top Priority

A Belarussian local news BelTA reported on May 15 that, Belarus considers the digitization of the economy a top priority and is creating a resolution encouraging digital economy for a sitting of the Parliamentary Assembly of the Organization for Security and Co-operation in Europe (OSCE PA).

Minister of Telecommunications and Informatization Sergey Popkov, speaking at the Eurasian Digital Forum said that digital technology is regarded as a top priority because of its ability to change “the economy, social services, and public administration.”

Popkov further quoted the newly approved Decree on the Development of Digital Economy, that expedites the cryptocurrency-related activity.

Vladimir Andreichenko, chairman of the House of Representatives, in a separate statement, announced that Belarus is creating a resolution supporting the digital economy for an OSCE PA session in Berlin this July. Andreichenko spoke about the coming session when he met with Valeri Kvaratskhelia, the Georgian ambassador to Belarus.

The resolution has already been made and will need a demanded amount of signatures at the Belarusian House of Representatives. Andreichenko stated that the resolution would also be sent to Georgian MPs to get their assistance.

Local media reported Last week that the NBRB (National Bank of the Republic of Belarus) is contemplating strict conditions for Initial Coin Offerings (ICOs) investments, and is proposing to begin a related regulatory structure for cryptocurrency exchanges. ICO investments will be closed to entitled investors, who must meet two of four strict standards to qualify.

It was earlier reported that the Belarusian cryptocurrency-related declaration would be updated to demand some cryptocurrency exchange platform to give client data to authorities. A company must give information on its communication records, client names, and management structure. The data will reportedly be filed for five years, and KYC policy will be applied to new clients in some instances.

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