Belarus

Belarus Government Mulls Over Crypto Mining

Many countries have considered the possibility of moving into the crypto mining industry. The latest on the list of those wanting to plunge into crypto mining is Belarus. The Belarusian government has started making moves to examine the likelihood of the country going into crypto mining as revealed by the country’s Ministry of Energy earlier today.

According to the Minister of the Ministry, Victor Karankevich, the government is extensively studying the industry to know the available opportunities and obstacles they could face in this new crypto adventure.

He added that the government is interested in the crypto mining industry to see how it might help improve the country while noting that the Belarusian government has been studying the feasibility of this for some time now. Two years ago, the President of the country had earlier proposed for the country to direct part of the energy from its nuclear power plant to crypto mining.

Can crypto mining help Belarus?

Recently, the country’s stance towards cryptocurrency is to create a budding and welcoming environment for crypto technology. Two years ago, the country’s largest bank, Belarusbank, also revealed its plans to set up a crypto exchange.

In 2020, the bank reportedly began the proposed cryptocurrency exchange in collaboration with a BTC exchange service provider, Whitebird. The bank said that it would allow its customers to buy Bitcoin using Visa cards. According to the info on Whitebird’s website, the initiative will allow the bank’s users to buy or sell Bitcoin with U.S. Dollars, Belarusian rubles (BYN), Russian rubles (RUB).

The bank added that it is going to leverage its partnership with Whitebird to provide more crypto services to its customers.

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