Belarus Develops a Resolution to Promote Digital Economy at OSCE Meeting

Belarus Develops a Resolution to Promote Digital Economy at OSCE Meeting

Belarus has made digitization of economy its top priority, and is developing a resolution to promote digital economy at a meeting of OSCE (Organization for Security and Co-operation in Europe), reports local news outlet BelTA on May 15.

Sergey Popkov, Minister of Telecommunications and Informatisation, said at the Eurasian Digital Forum that digital economy is being prioritized as it can completely transform public administration, the national economy, and social services. He then cited the decree that was adopted recently for the development of the digital economy and provides rights to Belarus residents to pursue cryptocurrency-related activities.

“The adopted Decree number 8 has provided unprecedented rights for the residents of Belarus High Technologies Park (HTP) to explore such innovative technologies as blockchain, cryptocurrencies and smart contracts.”

Another statement made by Vladimir Andreichenko, Chairman of Belarusian House of Representatives, revealed that Belarus is currently developing a new resolution for OSCE meeting that is to be held this July. This particular statement was made when Andreichenko met Valeri Kvaratskhelia, Georgian Ambassador to Belarus:

“…The Belarusian resolution is aimed at promoting the digital economy. It also deals with the issues of economic growth in the OSCE region, elimination of various obstacles and barriers, harmonization of standards, etc.”

Although the resolution has long been prepared, it still requires a number of signatures at the House of Representatives. Andreichenko further plans to send the resolution to Georgian MPs, to seek their support.

According to a local media report, the NBRB (National Bank of the Republic of Belarus) plans to enforce some strict requirements for investing in ICOs (Initial Coin Offerings), and design a similar regulatory framework for cryptocurrency exchanges. Only authorized investors who fulfill some criteria will be eligible to invest in ICOs.

Moreover, the Belarusian decree related to cryptocurrencies will be further updated to require some exchanges to provide the authorities with their customer data. In addition to that, companies must also provide information like client names and communication records, among many others.

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