Belarus has announced its readiness to accept foreign miners. The Ministry of Energy of the Republic said that investors from Russia and China are showing interest in cryptocurrency mining in Belarus, writes RBC Crypto.
Energy Minister Viktor Karankevich also reported journalists that mining facilities are already operating in the country. He added that Russian and Chinese entrepreneurs are showing interest in the construction and development of such projects, writes local publication Prime Press.
Karankevich explained that the possibility of using electricity for mining is one of the ways to increase electricity consumption in Belarus. According to him, the country’s energy system is ready for this, and tariffs for this type of activity are now very comfortable.
At the same time, the investment holding Finam began work to create a crypto broker in Belarus, which was discussed at a meeting with journalists by the president of the holding, Vladislav Kochetkov, and the head of the financial group’s client service development department, Dmitry Lesnov.
This will be an independent company offering crypto trading, Kochetkov explained. According to him, the site will open in Belarus, since this is “a kind of Switzerland from the point of view of crypto, more or less sanctioned.”
Lesnov explained that Finam expects to launch a platform by spring, which should become an alternative for Russians to crypto exchanges from unfriendly jurisdictions.
In Belarus, cryptocurrencies have been legalized since December 2017, after the adoption of the decree on the digital economy. The industry is exempt from taxes until 2049, and citizens of the country can not only own digital money, but also exchange, buy and sell for Belarusian rubles and foreign currency.
The largest bank in the republic, Belarusbank, and the WhiteBird company opened a cryptocurrency exchange service in the fall of 2020. At that time, customers of the service – citizens of Belarus and Russia – could buy and sell digital currency.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
