Belarus is making strides toward launching its own national cryptocurrency, as confirmed by President Aleksandr Lukashenko. In a recent statement following the presidential election on January 26, the Belarusian leader emphasized that the government is actively working on this initiative, leveraging the country’s surplus electricity for digital asset development.
Government-Led Crypto Initiative
According to the Belarusian Telegraph Agency (BelTA), President Lukashenko revealed that specialists and government officials have been assigned the task of creating a national cryptocurrency. The initiative was prompted by a formal proposal from the country’s IT experts, who recognize the potential of blockchain technology and artificial intelligence in shaping Belarus’ digital economy.
The president acknowledged the contributions of Belarusian IT professionals, stating, “They have suggested going this way. This idea comes from them, but they need our help as they are working on artificial intelligence and cryptocurrency. The same way I helped set up a park, I will support this initiative.” Lukashenko referred to the High-Tech Park (HTP), a government-backed hub that has played a pivotal role in advancing Belarus’ digital transformation.
Utilizing Surplus Energy for Crypto Development
A key driver behind Belarus’ cryptocurrency plans is the country’s surplus electricity. Lukashenko emphasized that utilizing this excess energy for crypto-related activities would be a strategic move for the nation.
“It suits us to make payments in cryptocurrency. We are working on a cryptocurrency in Belarus. We have extra electric energy. We are making the best of it,” he stated.
This approach aligns with Belarus’ broader efforts to integrate blockchain technology into its financial system, positioning itself as a hub for digital innovation. The availability of surplus energy provides an opportunity to power crypto mining operations, further strengthening the country’s digital economy.
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Belarus’ Evolving Crypto Landscape
Belarus has been gradually embracing blockchain and cryptocurrency. The country previously legalized cryptocurrency transactions and mining under a regulatory framework established in 2018, making it one of the more crypto-friendly nations in Eastern Europe. The introduction of a national cryptocurrency could enhance Belarus’ position as a key player in the global digital asset space, fostering innovation and attracting investments in blockchain technology.
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Conclusion
The announcement by President Lukashenko marks a significant step toward Belarus’ digital financial future. As the government and IT specialists collaborate on this initiative, the country is poised to leverage its technological expertise and energy resources to create a national cryptocurrency. Whether this move will lead to mainstream adoption or international recognition remains to be seen, but it undoubtedly signals Belarus’ commitment to embracing the evolving digital economy.
