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Belarusian Government Explores Potential To Move Into Crypto Mining

A recent news highlight from the Ministry of Energy of the Republic of Belarus shows the impact on the investigation launched towards determining the possible cryptocurrency mining benefits and limitations. In Belarus, the mining of crypto is under a hot-topic discussed in the news. Belarus is in the hot-topic of discussion since a lot of studies are being applied to the industry of crypto to determine a possible way of getting into digital crypto mining for the popular BTC (Bitcoin).

On Friday, a big announcement came from the Ministry of Energy of the Republic of Belarus. Are you excited to hear about the announcement? If you’re a bitcoin user or investor in Belarus, it’s crucial to know about the prevailing crypto market. The announcement showed the Belarus ministry having an interest in looking after the mining pros or cons prevailing around cryptocurrency.

 

Viktor Karankevish (Minister) released a statement into the matter that there is a fast-growing phase going-on in the crypto industry for mining activities worldwide in different countries like Russia, China, Canada, and the United States. You might have heard about the blockbuster news prevailing in different countries regarding BTC mining or other crypto-related activities. No doubt, major attention is upon the crypto market seeing the current trends. Also, he added that the government holds a consideration towards getting in the industry available for bitcoin mining along with proper investigation regarding the possible threats prevailing around it and other relevant factor considerations.

“Now, we are moving into a completely fresh phase of direction. No doubt, it is filled with high levels of interest but it’s essential to run a proper study on the matter before moving ahead to start it. In the study, it’s crucial to consider performing a proper assessment regarding the risks applicable to the activity.”

Belarus government stands in attention due to the mining activities indulged in the crypto market. Alexander Lukashenko (President) came up with a proposal for installing energy present in surplus using the first power plant (nuclear plant) of the country in crypto mining and selling activities in April 2019.

At present, Belarus is putting effort into getting a good position in the crypto market. A lot of incidents are seen wherein Belarus is trying its best to be friendly with cryptocurrency.

In Belarus, a proper setting and approach are being followed that steps towards blockchain and cryptocurrency. Lukashenko in 2017 signed a legal decree for laying seeds of digitalization in the economy. The 2017 crypto legalization decree showed light on the desire to be a part of crypto by the country. In the legalization process, it was applied to different activities in the crypto industry like trading, selling, buying, and mining.

Belarusbank (biggest bank of Belarus) in 2019 professed that it is indulged in efforts to lay the foundation for cryptocurrency exchange. In 2020, Belarusbank did the job to develop an exchange for cryptos. With such a development, it shows light upon the fact that Belarus is putting efforts into an exploration of mining crypto.

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