The Belarusian government wants to create unified legislation on cryptocurrencies with the countries of the Eurasian Economic Union (EAEU).
Alexander Egorov, Deputy Chairman of the Board of Directors of the Central Bank of Belarus, proposed standardizing regulations on digital asset circulation in the Eurasian Economic Union (EAEU), which includes Belarus, Armenia, Kazakhstan, Kyrgyzstan, and Russia. This would allow for unimpeded cross-border transfers in virtual currencies and prevent capital outflow to countries with more liberal legislation and low tax rates.
Alexander Egorov
All EAEU countries currently have different legislation on cryptocurrencies, and the most lenient regulatory measures are used in Kyrgyzstan, which recently allowed banks to provide services related to the purchase and sale of digital assets. In Armenia, on the contrary, they plan to ban the purchase of tokens and coins with cash, and in Kazakhstan plan create a state cryptocurrency fund and invest up to $1 billion in it.
In Russia, cryptocurrencies cannot be used as a means of payment, but the law does not prohibit the trading and mining of digital assets. However, next year, a regulation regulating cryptocurrency investment and introducing penalties for violating the rules may be adopted. Apparently, the Russian authorities intend to tighten the screws, so they are unlikely to support the creation of a unified, liberal legislation within the Eurasian Economic Union.