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According to Alexander Egorov, the first deputy chairman of the National Bank of Belarus, self-employed individuals in the country will have the ability to receive payment for their services in cryptocurrency by conducting transactions through a registered crypto bank.
In January, Alexander Lukashenko signed a decree to establish national cryptocurrency banks in Belarus. It is anticipated that the first such institution will be operational in the country by this summer. Following this, self-employed individuals will be able to accept payment for their services in cryptocurrency.
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“Previously, if a designer or programmer completed an order for a foreign client who offered payment in crypto, the individual found themselves in a gray area, unable to legally deposit those funds into their account or officially pay taxes on them. Now, this barrier has been removed,” Egorov explained.
He emphasized that the National Bank of the republic will oversee the operations of cryptocurrency banks. In the future, cryptocurrency cards will also be introduced in the country, allowing payments in stores just like with a regular plastic card. The conversion will occur at the time of payment based on the current exchange rate.
Earlier, Elvira Nabiullina, the chairwoman of the Bank of Russia, suggested “introducing accountability” for unregulated cryptocurrency transactions.
