The Belarusian President named crypto as a way to end dollar dependency
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The Belarusian President Alexander Lukashenko has classified cryptocurrencies as one of the possible paths for the world to wean itself off dependence on the US dollar. The president’s remarks came while he was at a government meeting held to discuss the performance of the Belarusian Nuclear Power Plant, rising electricity consumption and proposals for new nuclear capacities. Lukashenko’s faith in crypto as a way to escape dollar dominance The president has asked for a report on the measures taken to increase electricity consumption, their results, and proposals for the further development of the electric power industry and related sectors. In his comments, Lukashenko directly highlighted the global de-dollarization efforts, calling it a “global problem” and identifying things like cryptocurrency mining as potential solutions. “The focus is on the prospects for utilizing existing and new capacities,” the head of state said. In response to fears linked to cryptocurrency mining, especially how unstable it can be, the president implied it was a sacrifice worth making as the world struggles to distance itself from the dollar. “This process will intensify,” Lukashenko said. “So why are we so worried? Some volatility… Well, there probably will be. But nothing ventured, nothing gained.” Belarus, the nation Lukashenko presides over, is closely allied with Russia and is one of the countries serious about fighting the dollar’s dominance. It has actively de-dollarized trade, reduced its USD holdings, and is currently exploring alternatives like BRICS payment systems, and if Lukashenko’s comments have anything to do with it, crypto. Lukashenko has always encouraged mining in Belarus Lukashenko’s comments on mining come weeks after he urged his country’s regulators to finalize long-delayed rules for cryptocurrencies and digital tokens in September. Lukashenko had complained at the time that his 2023 instructions to craft comprehensive regulations had yet to produce approved documents and…
Filed under: News - @ November 15, 2025 4:27 am