The tide is turning in favor of all cryptocurrencies as the German National Tourist Board and the country of Belarus are now welcoming the use of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies.
In the first case of the German National Tourist Board (GNTB), an announcement was made on the 5th of March welcoming payments in Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies. This is an attempt by the Board to continually evolve with current digital trends and latest technologies. GNTB, being global, wants to set an example as a trend setter for innovation and a source of inspiration for the global tourist industry. This is due to the fact that cryptocurrencies are also global and erase all boundaries set on maps through their decentralized nature and worldwide popularity.
This is welcome news for crytpocurrency holders who happen to be planning trips to Germany. They no longer have to go through complex Forex exchanges that leave tourists with a felling of being ripped off after high transaction fees and ever changing exchange rates.
Belarus is also setting a precedent for other countries by legalizing all crypto related businesses in the country. A Presidential Decree on the ‘Development of a Digital Economy’ came into effect on the 28th of March this year. The decree was signed in December by President Alexander Lukashenko and became active on the said date of the 28th. By legalizing crypto related businesses such as ICO’s, crypto-mining, smart contracts and crypto-exchanges, the country is hoping to lure international entrepreneurs and corporates but on the condition of registering as residents of the Belarus High Technologies Park.
The decree goes ahead to offer tax breaks and incentives for crypto businesses until January 1st, 2023. No taxes will be imposed on any crypto related profits till then for local and international cryptocurrency entities operating in the country.
The future is indeed looking bright for global cryptocurrency adoption with the above two developments. These announcements add to the list of ever expanding crypto adoption news that is slowly but surely gathering headlines despite the market not being at its best this year.