Though often overlooked, Belarus is starting to prove itself as a goldmine of startup activity. Now, unlike some of its neighbours, the Eastern European nation is showing how friendly it is to cryptocurrencies after announcing new accounting standards. Belarus’s Ministry of Finance has formally introduced standards for Cryptocurrency Accounting which are to be adhered to with immediate effect.
The decree will allow makes it easier for businesses employing virtual currencies to file for their taxes as well as utilize alt-assets in general and let crypto-transactions to be accounted for in a streamlined fashion. Back in December 2017, the country’s president, Alexander Lukashenko, signed a document in support of blockchain technology and cryptocurrencies.
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