On January 26, 2025, during a press interaction following his voting at a polling station, President Alexander Lukashenko revealed that Belarus is actively pursuing the creation of its own cryptocurrency. This initiative is supported by the country’s abundant electricity resources, which Lukashenko highlighted as a significant advantage.
Lukashenko stated, “We are in the process of developing a cryptocurrency in Belarus. Our surplus electricity positions us well for this venture.” He emphasized that the task has been delegated to specialists and government officials, noting that local IT experts have recently reached out to him with proposals regarding this digital currency initiative.
The President acknowledged the proactive stance of IT professionals in suggesting this direction, indicating that they require governmental support similar to what was provided during the establishment of the Hi-Tech Park. “This is a promising avenue for us — utilizing cryptocurrency for transactions. We are committed to making this happen,” Lukashenko remarked.
This announcement comes at a critical time as Belarus prepares for its presidential election, where Lukashenko is expected to secure his seventh term amidst a backdrop of political repression and international scrutiny. The upcoming election has raised concerns over its legitimacy, with many opposition figures either imprisoned or exiled following the unrest that erupted after the controversial 2020 elections.
As Belarus navigates these complex political waters, the development of cryptocurrency could serve as a strategic economic move, potentially attracting foreign investment and bolstering the nation’s technological landscape.
