REGULATION

Belarusian President urges citizens again: Don't go abroad to work as farmers or laborers, invest in cryptocurrency mining.

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Belarusian President urges citizens again: Don

Belarusian President Alexander Lukashenko recently urged the public to engage in cryptocurrency mining activities domestically to increase income, instead of going to countries like Germany and Poland for low-paying agricultural jobs, emphasizing that Belarus has abundant electricity.

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During a meeting of the trade union at the Russian state-owned enterprise JSC Belaruskali, Alexander Lukashenko stated:

There is no need for Belarusian labor abroad. We must understand that there are no foreign enterprises waiting for us, and even if there are, they might just be some vegetable farms.

Prior to this, during a visit to the southern town of Pietrykaw in the Homiel region, Alexander Lukashenko emphasized that Belarus has abundant electricity resources and abandoned industrial land to offer to the cryptocurrency mining industry. He mentioned:

I attended the opening ceremony of a mining farm during my visit, where there are many idle industrial lands that can be used to generate income through mining. We can use electricity to create some industries, mine cryptocurrencies or any other tokens, Belarus has enough electricity to do these things.

This is not the first time Belarus has mentioned cryptocurrency. The country passed legislation in December 2017 and approved Decree No. 8 at the end of 2018, legalizing cryptocurrencies, mining, and ICOs, exempting related taxes until 2023.

In 2019, Alexander Lukashenko proposed using the nuclear power plant that was nearing completion in two years for Bitcoin mining. He believed that Belarus definitely has the space and energy to mine Bitcoin, and selling Bitcoin would not be a problem.