Belarus taps electricity surplus to launch national cryptocurrency
The self-proclaimed president of Belarus, Alexander Lukashenko, mentioned that he recently received a letter from representatives of the IT sector proposing the creation of a national cryptocurrency. He indicated that this is feasible because Belarus has "surplus electricity."
- We are working on creating a cryptocurrency in Belarus. We have surplus electricity - Lukashenko said, adding that this task has been assigned to specialists and the government.
He also asserted that transactions using cryptocurrencies are normal. "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 added.
Compares himself to Trump
- Trump also announced a cryptocurrency; generally, he is a supporter of it. It is normal for us [Belarusans - ed.] to conduct transactions in crypto - Lukashenko remarked.
Just before taking office as President of the United States, Donald Trump released two cryptocurrencies: $Trump and $Melania (named after the First Lady). Compared to something like Bitcoin, these are considered so-called memecoins, which are tokens based on memes or the image of famous people, and are largely used for speculative transactions.
Cryptocurrencies were legalized in Belarus in 2017. In September 2024, Alexander Lukashenko signed a decree prohibiting individuals and solo entrepreneurs from engaging in the purchase and sale of tokens on foreign platforms that are not residents of the Belarusian special economic zone.
