The Ukrainian Association of Venture Capital and Direct Investments (UVCA) forecasts the possibility of moving the Ukrainian crypto-currency business to Belarus.
This was reported by the Chairman of the Supervisory Board of the UVCA Andrey Kolodyuk to Interfax-Ukraine.
He stressed that previously “the state actively put pressure on the IT companies via its power structures”, but the Ukrainian IT business was able to survive that stage.
“We see that all achievements can be crossed out by the work of law enforcement agencies. If the pressure does not stop, then all business will move to, for example, Belarus, where all the conditions for successful work are created at the state level,” said Kolodyuk.
It is worth noting that the Ukrainian crypto-currency business has its own peculiarities.
Thus, on February 1, the Chief Military Prosecutor of Ukraine Anatoly Matios stated that the Kiev company ‘Kvazar’ had been mining crypto-currency and transferring funds to finance the so-called DPR and LPR. The siloviki seized 400 mining farms at ‘Kvazar’. The enterprise, however, was quick to deny involvement in the financing of militants.
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On December 22, Alyaksandr Lukashenka signed a decree “On the development of the digital economy”, which was called “revolutionary” in the IT circles before the signing. Under the decree, crypto-currencies were legalized in Belarus, mining was authorized, the taxation system for IT business was simplified.
