Kirill Zalessky
MINSK, 5 September (BelTA) – Regulations in the sphere of cryptocurrencies develop taking into account the law enforcement practice. Belarusian Communications and Informatization Minister Kirill Zalessky made the statement after the head of state hosted a conference to discuss the development of the sphere of digital tokens, BelTA has learned.
Kirill Zalessky said: “The sphere of digital tokens, which include cryptocurrencies, is indeed complicated. It is new and most importantly it is risky. Today every person, every citizen of the Republic of Belarus needs to understand that the sphere of cryptocurrencies is for those, who knows these things and knows what to do about them. Actually even the negative stories we hear (the failure of token issuers to honor their commitments) represent a risk investors, who buy these tokens, undertake knowingly. It is a risk they have to calculate themselves.”
Thus, the minister stressed the cryptocurrency business is no place for people, who want to make easy money by chance. “They need to clearly weigh their decisions, have professional knowledge about this sphere in order to make informed choices as they invest their own savings into this business, which offers higher revenues in comparison with other financial tools due to high risks,” Kirill Zalessky said.
In his words, regulations in this sphere develop on the basis of law enforcement practices. Enactments of the supervisory board of the Hi-Tech Park are released regularly when needed in order to regulate various aspects. “It is constant work in consensus with all the involved government agencies. Not only the government but a much broader range: the National Bank, the Belarus President Administration, the State Control Committee, the Operations and Analysis Center under the President, and so on,” Kirill Zalessky added.
The minister stated that the regulation of this sphere does not stop. These rules will be expanded and polished: “There is no doubt that the state will erect a reliable barrier to counteract any attempts at abuses. We have seen it in the history of development of the crypto industry since 2018. Today by relying on our own experience we have blocked a number of scams and the possibility of using tokens in various unlawful activities. Today we have made decisions on operations of natural persons in order to put things in order, minimize possible losses for law-abiding people,” Kirill Zalessky concluded.
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