Presidential Crypto Directive: They Will Direct All Excess! - Coin Bulletin

Belarus President Alexander Lukashenko is planning to encourage cryptocurrency mining to utilize excess energy.

Belarusian President Alexander Lukashenko instructed the energy minister to encourage the country's cryptocurrency mining sector and to use excess electricity to generate additional income.

This move by Lukashenko came at a time when the Belarus government is going through a restructuring process. The president emphasized the need to modernize the country's 5,700-kilometer energy grid and highlighted the importance of keeping up with the growing demand for electricity. Belarus aims to support sectors with intensive electricity consumption, such as mining, in order to utilize the energy surplus.

Belarus had previously taken regulatory steps towards cryptocurrency mining and provided tax exemptions in this area. However, recent developments indicate that the government wants to embrace mining more broadly. The use of excess electricity capacity for mining not only offers the country a new economic opportunity but also aims to increase the efficiency of the energy sector.

This initiative could strengthen Belarus' crypto-friendly policies. However, global mining competition and potential regulatory changes will be the factors determining the future of the country's this strategy.