Re-Election in Belarus Impacts Crypto

Colin Baseman

Politics can change a lot of things in absolutely all spheres of our lives. What politicians do can greatly influence the majority of industries. Governmental organizations pass laws and set new rules for various businesses. In some instances, what officials do can harm industries and not let them flourish and develop.

On the other hand, we all understand that without certain regulations we would not have the right level of safety and security. Knowing rules helps us move ahead and feel more self-confident. Laws protect us from possible risks and guarantee that the government will support us if we experience trouble. Elections might probably be the most important event for any country’s future.

The latest news reports announce that the re-election in Belarus will definitely bring changes. Many crypto market analysts are now studying the situation – specialists are making predictions since the entire crypto community would like to see how the re-election of Lukashenko can affect the crypto space.

We cannot deny the fact that it can mean a lot to the crypto industry and its participants. The election, according to politicians, was contested. Many crypto holders think that it leaves the future of cryptocurrency in an uncertain or undecided state and condition.

Everybody is now discussing protests and riots that erupted this week in many regions and the presidential election made the nation feel aggressive and irritated. However, crypto specialists claim that the continued presidency is likely to become relatively positive news for the crypto world.

The presidentis said to have managed to win re-election against the major opposition candidate. His landslide victory came to him with more than eighty percent of the vote last weekend.

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High Percentage Does Not Reflect Reality

At the same time, representatives from other nations as well as the country itself are ready to condemn and not accept the results of the event – they call them ‘flawed’ and strongly believe that those votes and ballots were falsified. It’s true that there are plenty of European nations that consider Belarus’ leader the last dictator.

Lukashenko has been serving as the president for the past twenty-six years. During this period he has made numerous statements and expressed his support of blockchain technology. Three years ago, the government legalized cryptocurrency. Participants still remember thevideo where the president is addressing people.

During his speech, he mentioned that he thinks it’s possible to use excess energy that the country receives from the power plant for crypto mining. Selling and mining the top-ranked crypto was allowed. The audience didn’t take his words seriously.

However, analysts like Pomplianomentioned that soon there will be more countries that mine and hold crypto. Crypto legislation is not yet accepted everywhere and Belarus is far from being the most progressive area that supports blockchain and cryptocurrency. The good news is that the population is eager to start negotiations and make the chage. Nevertheless, the country has finally implemented several legislative amendments.

Authorities requested lawmakers to seize crypto from criminals. As a result, the central bank has prepared toset up a special scheme that would permit banks that are owned by the state and commercial bodies to issue tokens. New rules would also allow them to do business and establish crypto exchanges.

Belarus is ready for the most essential changes and the current president is fully aware of the importance of the crypto industry – he admits that this sphere can offer new opportunities and let the nation fully benefit from its advantages.