Crypto as alternative to US dollar appears once again in discussions led by Belarus President Alexander Lukashenko.
The leader has presented digital assets as a possible route for countries seeking to reduce reliance on the US dollar. His comments came during a government session that examined the performance of the Belarusian Nuclear Power Plant, rising energy use, and the need for new power capacity.
Lukashenko stressed the importance of expanding electricity consumption and requested a full review of current measures and future plans. He framed the global shift away from the dollar as an unavoidable trend. He suggested that cryptocurrency mining could support this transition. He also dismissed concerns about volatility and said the world must accept some uncertainty as it moves toward new financial models.
Lukashenko stresses role of crypto in global de-dollarization
The president said the push to reduce dollar dominance is growing. He noted that energy resources and digital mining could support new financial systems. He argued that volatility in digital assets is not a reason to avoid them. He said the world is moving toward alternative systems and that Belarus should adapt.
Belarus remains aligned with Russia in its de-dollarization strategy. The country has cut its US dollar reserves and studied other payment systems. Lukashenko suggested that cryptocurrency could become part of this shift. He continues to promote mining as a strategic opportunity for the nation.
Belarus pushes for overdue crypto regulations
Lukashenko repeated concerns about delayed regulations. He said his instructions from 2023 had not yet produced final documents. He called for clear and transparent rules that can support domestic and foreign businesses. He urged regulators and the Hi-Tech Park to divide responsibilities and focus on effective oversight.
The president warned that technology is advancing faster than legislation. He said this gap pressures states to create new legal frameworks. He wants Belarus to remain a competitive digital hub. He said firms should feel confident when operating within the country’s regulated environment.
Mining expansion supported by surplus energy
Lukashenko has also suggested using excess electricity for mining operations. He said more citizens were raising the idea. He added that mining could be profitable if the state supports it. He pointed to recent discussions in Washington on a potential strategic crypto reserve and said global trends show strong movement toward digital assets.
Belarus already has a foundation for digital innovation through decree No. 8. The decree created a legal basis for token issuance, exchange, and smart contracts. It also granted tax exemptions for companies working within the Hi-Tech Park. These measures helped attract international blockchain firms and positioned the country as an early supporter of regulated crypto activity.
Lukashenko continues to present crypto as a tool for national and global financial independence. His government is now under pressure to finalize long-awaited rules. Belarus aims to use regulation and energy advantages to expand its place in the digital economy.
