Belarus has announced its readiness to accept foreign miners. The Ministry of Energy of the republic reported on the interest of investors from Russia and China in the development of cryptocurrency mining in the country, according to information published by RBC Crypto.
Energy Minister Viktor Karankevich also shared with journalists information about working mining facilities in the country and that Russian and Chinese entrepreneurs are interested in the construction and development of such projects, according to the local edition of Prime Press.
The minister noted that they are ready to consider specific applications indicating the location and power consumption for mining. He also stressed that using electricity for mining is one of the ways to increase electricity consumption in the country and that the energy system is ready for this, and tariffs for this type of activity are currently very profitable.
At the same time, Finam investment holding began work on the creation of a crypto exchange in Belarus. Vladislav Kochetkov, President of the holding, and Dmitry Lesnov, Head of the financial group's Customer service Development department, announced this at a meeting with journalists. This independent company will provide crypto trading services and plans to start working by spring, becoming an alternative to crypto exchanges from countries with unauthorized regulators.
Belarus legalized cryptocurrencies in December 2017, after the adoption of the decree on the digital economy. The cryptocurrency industry is exempt from taxes until 2049, and citizens of the country have the right not only to own digital assets, but also to carry out transactions with them using Belarusian rubles and other currencies. The largest bank in Belarus, Belarusbank, and the WhiteBird company have been providing cryptocurrency exchange services since the fall of 2020, and the service's clients can be citizens of Belarus and Russia.
