Belarus prepares its own cryptocurrency
President of Belarus Alexander Lukashenko announced that the country will issue a state-backed cryptocurrency. This was reported by "BelTA."
The head of state did not go into details about the project but noted that government officials are working on the development of the digital currency together with IT specialists who initially proposed the idea of creating a Belarusian coin. Lukashenko mentioned the surplus of electricity in the country, hinting that the state has sufficient capacity for mining.
"It’s normal for us to conduct transactions in crypto. We are working on creating a cryptocurrency in Belarus. We have excess electricity. We are successfully using it," Lukashenko stated.
Earlier, it was reported that price fluctuations prevent cryptocurrencies from being a reliable store of value. Nevertheless, they serve as a good tool for transactions. This was stated by the Minister of Finance of Russia, Anton Siluanov.
