Cryptocurrencies in Belarus’ bank sector: good or bad?

Cryptocurrencies in Belarus’ bank sector: good or bad?


At the end of December 2017, Alexander Lukashenko signed a decree on the development of digital economy, where the possibility of buying and selling cryptocurrencies is being touched upon.

Nevertheless, not all Belarusian bankers are in favor of using cryptocurrencies. A well-known solicitor Matvey Levant has commented on the issue to the news agency.

Matvey Levant, solicitor:
It was in 2014 when it was said that block chain technologies may eliminate the necessity of a mediator between payers and fund receivers. And if banks do not take any measures and don’t get involved into modern economy, they may become unnecessary.

Banks may refuse to work with new realities but according to the opinion of Boris Lev, a prominent solicitor, banks can then stop existing.

Boris Lev, solicitor:
Banks have an opportunity to get involved into service of sectors, into which finances will be invested from all over the world. Some of the banks are not going to work in this direction, yet others see an additional opportunity of earning more in it.

What is more, Boris Lev stated that using these types of transactions attract residents from other countries.