Belarus hits top 10 best blockchain countries in Europe

Belarus entered the top ten thanks to the legal force of smart contracts and the zero tax on bitcoins until 2023.

On the eve of the BlockShow Europe 2018 conference to be held in Berlin at the end of May, there was posted the rating of European countries with the most comfortable conditions for working with blockchain technology.

Experts analyzed the use of crypto currencies, the rules of their sale and the tax legislation of almost every country in Europe, and compiled a list of the ten most crypto-loving countries.

Belarus ended up at the 10th place with the rating of “9”.

“Belarus is on this list, since its taxes for bitcoin are 0% until 2023. According to the Belarusian government, the currency balance will not be not taxed until 2023 to create a special economic zone that can compete with the Silicon Valley. In addition, Belarus has given the smart contracts the power of legal contracts,” the study authors wrote.

The top ten also included Great Britain, Gibraltar, Denmark, Malta, the Netherlands, Germany, Portugal, and Finland.

The rating is headed by Switzerland, which experts rated at “26” points.

“Switzerland has become a global hub for projects related to crypto-currencies, thanks to the positive changes in the legislation of the Zug canton in central Switzerland,” the report says.

It was there that an independent project “Cryptosilicon Valley” was launched to create a “world center for blockchain and cryptography technology”, supported by the Swiss government.

At the end of 2017, Alyaksandr Lukashenka signed a decree on the development of the digital economy with a view to attract global IT companies to Belarus. The document made crypto-currencies legal in Belarus and exempted the future residents from value-added tax.

Also, Belarus may soon have its Ministry of Digital Economy.

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