Is Belarus Planning to Legalize Bitcoin Mining? Here’s What Country’s President Said

The Republic of Belarus might be the next country to legalize Bitcoin ($BTC) mining joining the likes of Iran and Kazakhstan. While there is no official announcement at the moment but going the by country’s President comments, it seems more likely. During the opening of the Petrikovsky mining and processing plant, President Belarus Alexander Lukashenko called for the construction of Greenhouses to mine Bitcoin.
“They don’t wait for us anywhere, but if someone is waiting, then maybe on the plantations, as Ukrainians often say: the Poles or the Germans are struggling to pick strawberries … we have a lot of sites here in Petrikiv, create something on electricity, in the end, start mining the cryptocurrency, ”Lukashenka said.
The President believes Belarus has several sites and enough electricity that can be utilized to create Bitcoin mining infrastructure. It is also important to note that cryptocurrency trading is legal in the country since December 2017. The digital currency ecosystem is currently exempt from taxes and the state promotes its use. Thus, it won’t be a big deal if the country makes way for state-sponsored clean Bitcoin mining operations.
Last year, the country’s largest bank also open crypto exchange services for the customers that allowed them to buy and sell crypto assets using VISA cards.
Bitcoin Mining Countries are Increasing in Number
Iran was among the first nations to legalize Bitcoin mining in a way to fuel the economy hit by various trade sanctions. At one point the country was also considering the use of Bitcoin for international trade. The country temporarily banned Bitcoin mining in the country as illegal mining led to several blackouts in the country. Iran is set to restart Bitcoin mining operations from the first week of September.
Kazakhstan became a Bitcoin mining hub post-Chinese Bitcoin mining ban and its share of Bitcoin increased from the fifth spot to second within a year. Many North American nations and the US have also attracted migrating miners from China that not only ended China’s dominance in the Bitcoin mining industry but also made the network more decentralized.
- Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces
- Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes
- Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up
- Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume
- Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Prediction as Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK