Belarus want to be leader in digital currenciesStaff Writer | December 23, 2017
The president of Belarus has offered generous tax benefits and other incentives to information technology firms to help turn the ex-Soviet nation into a leader in digital currencies.
Technology President Alexander Lukashenko:
The move would encourage the use of digital currencies and offer sweeping tax incentives to those who mine bitcoins.
The cryptocurrency has been notoriously volatile, with a significant crash every quarter and a particularly unstable week. Friday, it lost a quarter of its value in the past 24 hours.
Lukashenko's decree represents a sharp turn for the Soviet-style, government-controlled economy he's run since 1994 with little tolerance for dissent and most economic assets in state hands. ■