Belarusian President: Supporting digital assets as a potential tool to enhance national economic autonomy

PANews reported on November 17th, citing Finance Feeds, that Belarusian President Alexander Lukashenko strongly supports Bitcoin and cryptocurrency mining, viewing digital assets as a potential tool to enhance the country's economic autonomy. At a recent government meeting on energy strategy, he stated that cryptocurrencies could help reduce the country's dependence on the traditional dollar financial system. While acknowledging the volatility of digital assets, he believes that given Belarus's current geopolitical pressures and foreign exchange constraints, the benefits of adopting Bitcoin far outweigh the risks.

Previously, the country passed Decree No. 8, establishing a regulatory environment for digital asset operations and laying the legal foundation for cryptocurrency activities. Lukashenko reiterated that the country's abundant electricity resources and existing industrial infrastructure provide favorable conditions for expanding mining operations. He pointed out that surplus energy can be redirected to profitable cryptocurrency mining activities rather than left idle, further reinforcing the view that mining can both generate revenue and enhance strategic resilience.