President of Belarus will support innovative initiatives in cryptocurrency

People from all over the world increasingly more interested in cryptocurrency. As the Bitcoin market is on the rise many governments have shown optimism to develop crypto-currency space. The president of Belarus Alexander Lukashenko seems to be very curious about the advancements in this sector.

Formerly the head of the Radius Group has shown interest in flourishing the crypto-space by establishing mining equipment plant in Belarus. However, he was not able to materialize this idea as the local market is skeptical about the crypto and they have not accepted this technology so far.

Past motives by the President for the development of the digital economy:

In 2017 the Belarus president took steps for the exclusion of taxes on cryptocurrency buyers and sellers. Last year he ratified the proclamation of the digital economy of the nation.

These initiatives show that the President is keen to develop the information technology (IT) sector in Belarus and he wants to make his country a hub of IT.

Recent steps by the President to flourish crypto-space:

Recently the President expressed his views of building farms and mining of coins for the sake of selling. He encouraged the IT experts to use all the available resources for this purpose and also the assurance of a sustainable supply of electricity for this project.

He affirmed that he himself will supervise all the developments, he wants that the future generations would be fully equipped with all the advancements in the crypto-sector.

The head of the Belarus High Tech Park (HTP), administration Vsevolod Yanchevsky said that the president of Belarus is very optimistic in regard to developing crypto-sector. He added that the president is also willing to invest in this sector in order to develop IT industry and this initiative is regarded as revolutionary as it will bring revolution and innovation in IT business.