| Customers: Belarusbank
Contractors: WhiteBird Project date: 2020/11
|
On November 13, 2020 the Belarusbank announced start of service for exchange of cryptocurrencies. The credit institution, largest in Belarus, implemented this project jointly with WhiteBird startup.
The new service allows to buy and sell cryptocurrencies using the Visa payment cards. The cryptocurrency can be exchanged for the Russian and Belarusian rubles, the service is available to citizens of Belarus and the Russian Federation. In the future the list of the countries will extend, declared in Belarusbank. Also it is going to expand the list of the cryptocurrencies available to exchange, having added, in particular, "air" and "litecoin".
The bank noted that the program for digital transformation of financial institution was announced some more years, at the same time strategic partnership in implementation of service for exchange of cryptocurrencies became a part of this program.
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The Belarusbank and WhiteBird company rendering services in exchange of cryptocurrencies in the legal framework of decree No. 8 "About development of digital economy" cooperate since 2018. By November of the 2020th the startup is the first and only legal operator of exchange of cryptocurrencies in the CIS countries and also in Georgia and in Ukraine. The company is a resident of the Park of High Technologies (PHT).
In Belarus cryptocurrencies are legalized since December, 2017 after adoption of the Decree about digital economy. The industry is exempted from taxes till 2049, and citizens of the country not only can own digital money, but also change, buy and sell for Belarusian rubles and currency, such actions do not need to be declared.
For residents of PVT transactions with cryptocurrencies are not assessed with the VAT and income tax, individuals should not pay income tax including on mining. Transactions with digital money in Belarus do not assume obtaining the special license.[1]
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Notes
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