Belarusian President Aleksandr Lukashenko has urged officials to strengthen the country’s energy infrastructure and consider cryptocurrency mining to utilise surplus electricity.
Addressing newly appointed Energy Minister Aleksei Kushnarenko, he highlighted the need to upgrade 5,700km of power networks essential for homes and electric vehicles. While high-voltage systems are stable, weaker areas require reinforcement to prevent outages like those in the Gomel Region.
Belarus has been exploring crypto mining for years, with Energy Minister Viktor Karankevich confirming in 2021 that a feasibility study was conducted.
Lukashenko wants to accelerate these efforts, citing global demand for digital assets and the country’s potential to attract investors or establish state-backed mining operations. Officials have been given responsibility for streamlining regulations and presenting concrete plans.
Alongside crypto mining, Lukashenko promotes increased electricity use for heating and hot water, supported by plans for a second nuclear power plant.
He sees this as a long-term strategy to ensure energy reliability and economic growth, positioning Belarus as a key player in the digital asset space and sustainable energy development.
For more information on these topics, visit diplomacy.edu.
The International Monetary Fund (IMF) has urged El Salvador to stop public-sector Bitcoin purchases as part of its $1.4 billion funding deal with the country. In newly issued documents, the IMF stressed that the government should not voluntarily accumulate Bitcoin or issue any debt instruments tied to it.
Méndez Bertolo, the IMF’s executive director for El Salvador, stated that the fund aims to improve governance, transparency, and economic resilience while mitigating Bitcoin-related risks.
Recent amendments to the Bitcoin Law have clarified Bitcoin’s legal nature, ensuring that its acceptance remains voluntary and that tax payments continue in US dollars. The public sector’s role in Bitcoin adoption has also been scaled back.
The IMF reaffirmed its stance that El Salvador’s Bitcoin engagement should remain limited, in line with international financial policies.
The government has committed to enhancing regulation and supervision of digital assets, aligning with evolving global standards. Despite these restrictions, President Nayib Bukele has continued to acquire Bitcoin, with the country’s holdings now reaching 6,100 BTC.
For more information on these topics, visit diplomacy.edu.
India’s Enforcement Directorate (ED) has chosen CoinDCX to manage and store seized digital assets as part of a crackdown on cryptocurrency-related financial crimes.
The partnership follows high-profile fraud cases like GainBitcoin and BitConnect, which have raised concerns over investor protection. CoinDCX will offer secure custody services to safeguard these assets, implementing advanced security protocols to ensure their integrity.
In a recent case, the ED seized digital assets worth approximately $198 million linked to the BitConnect scam, which defrauded investors worldwide.
Earlier, the Central Bureau of Investigation (CBI) had seized $2.88 million in the GainBitcoin scam, uncovering evidence of financial misappropriation and cross-border transactions. These actions highlight the increasing efforts by authorities to tackle large-scale cryptocurrency fraud.
As cryptocurrency adoption rises in India, regulatory bodies are focusing on stronger enforcement to protect investors from fraudulent schemes.
The collaboration with CoinDCX is part of a broader strategy to ensure transparency in the handling of seized funds and to maintain the integrity of ongoing investigations.
For more information on these topics, visit diplomacy.edu.
South Korea’s financial regulators are closely monitoring Japan’s moves towards approving Bitcoin exchange-traded funds (ETFs), with reports suggesting that Seoul may follow suit if Tokyo takes further action. Since late last year, South Korea’s Financial Services Commission (FSC) has discussed Bitcoin ETF approval, but it has maintained a cautious stance towards crypto. However, recent developments in Japan have sparked new responses from South Korean regulators.
The Japanese Financial Services Agency (FSA) is reportedly considering reclassifying cryptocurrency as an investment tool and approving Bitcoin and altcoin ETFs. This potential shift has caught the attention of South Korean regulators, who have reviewed Japan’s policies and shared their findings within Seoul. The FSA aims to implement new crypto regulations by June, and this could set the stage for further legislative changes by 2025 or 2026.
While South Korean regulators have traditionally been hesitant, some financial chiefs have expressed concern over the country lagging behind rival nations. The FSC has recently indicated that it is unlikely to approve virtual asset ETFs shortly, citing Japan’s approach as a key reason. As Japan pushes ahead with its plans, it remains to be seen how South Korea will respond to these growing crypto policy shifts.
For more information on these topics, visit diplomacy.edu.
Australia’s government has ruled out creating a strategic cryptocurrency reserve, despite the US pressing with plans to hold assets like Bitcoin, Ether, XRP, Solana, and Cardano. The Albanese government remains focused on regulating the digital asset sector rather than following the US lead. A spokesperson for the Assistant Treasurer confirmed that efforts are concentrated on developing a clear regulatory framework rather than acquiring crypto.
Meanwhile, the opposition coalition, which could return to power in the upcoming election, has not yet decided whether it would reconsider the decision. Some industry experts believe that while a crypto reserve is an interesting concept, it carries risks due to market volatility and concentration concerns. Others suggest a sovereign wealth fund investing in crypto could be a more viable alternative.
Despite rejecting a national reserve, Australia remains a growing player in the crypto space. Regulators have ramped up oversight, with new anti-money laundering measures and proposed authorisation rules for crypto firms. The country has also become a hub for Bitcoin and crypto ATMs, now ranking third globally with over 1,453 machines.
For more information on these topics, visit diplomacy.edu.
More than 600 Russian crypto mining firms and infrastructure operators have now registered with the country’s Federal Tax Service (FTS), according to an official report. This includes 518 miners and 91 other operators, such as hosting services and data centres. By November 2024, all mining firms using over 6,000 kWh of electricity per month will be required to register with the FTS.
Although crypto mining is not yet taxed in Russia, the government is preparing a bill that would impose levies on miners’ incomes. The FTS has also reminded miners using over 6,000 kWh monthly to report the cryptocurrency they have mined, signalling that some have yet to comply.
The registration process has been described as running smoothly, with FTS officials stating that miners signing up would ensure safer operations. The register also requires firms to report detailed information, including their mined crypto, transaction data, and wallet addresses.
Experts estimate that the top Russian crypto mining companies generated over 20 billion rubles in revenue in 2023, amounting to approximately $223.9 million.
For more information on these topics, visit diplomacy.edu.
The Swiss National Bank (SNB) has rejected the idea of adding Bitcoin to its reserve assets, with President Martin Schlegel citing concerns over volatility, liquidity, and security risks. He argued that Bitcoin’s price fluctuations make it unsuitable for Switzerland’s monetary policy needs, as reserves must remain highly liquid for rapid deployment.
The stance contradicts efforts by the Swiss Bitcoin think tank 2B4CH, which is pushing for a referendum to mandate Bitcoin as part of the SNB’s reserves. The initiative, launched in late 2023, needs 100,000 signatures by mid-2026 to move forward. Despite growing interest in institutional adoption, Schlegel dismissed Bitcoin as a ‘niche phenomenon’ and insisted it poses no threat to the Swiss franc.
While Switzerland remains hesitant, other countries are embracing Bitcoin reserves. El Salvador continues to accumulate the asset, and the US, Czech Republic, and Hong Kong are considering similar moves. Meanwhile, several US states are introducing legislation to support Bitcoin adoption, even as Switzerland maintains a cautious approach.
Bitcoin is currently trading at around $86,000, with analysts watching key price levels for a potential rally. Despite the SNB’s resistance, Switzerland remains a major hub for crypto innovation, particularly in Lugano, where Bitcoin adoption continues to expand.
For more information on these topics, visit diplomacy.edu.
The cryptocurrency market saw a massive $300 billion boost after Donald Trump reaffirmed his commitment to making the US the world’s crypto leader. His latest executive order establishes a national crypto reserve, set to include Bitcoin, Ethereum, XRP, Solana, and Cardano.
Bitcoin surged past $93,000, jumping 8% in a day, while Ethereum climbed 11%. Altcoins rallied even harder—Cardano skyrocketed 66%, Solana rose 20%, and XRP soared 28%, overtaking USDT to become the third-largest cryptocurrency. Despite the market’s enthusiasm, the Crypto Fear & Greed Index remains in the ‘Fear’ zone at 33.
Trump’s plan signals a shift from simply holding Bitcoin to actively building a strategic reserve. While some welcome the move as a push for US dominance in digital assets, others argue government control could destabilise the dollar or become subject to political shifts.
Investors are now eyeing the upcoming crypto summit, where key policy details will be revealed. With expectations high, the market awaits clarity on regulations and the long-term impact of the reserve.
For more information on these topics, visit diplomacy.edu.
Colombian lawmakers have launched a fresh bid to regulate the nation’s growing cryptocurrency industry, aiming to provide legal clarity and consumer protection. The proposed bill, backed by Senator Gustavo Moreno and Congress Representative Julián López, seeks to create rules that safeguard users while encouraging investment. Lawmakers warn that the current lack of regulation leaves the sector vulnerable to fraud, financial crime, and uncertainty.
With over five million Colombians using crypto and transactions reaching $6.7 billion in 2024, concerns over scams and illicit activities have intensified. The Superintendencia Financiera de Colombia has been working on crypto-related pilots since 2021, but no solid regulatory framework has emerged. The bill proposes a licensing system for Virtual Asset Service Providers (VASPs), ensuring compliance with anti-money laundering and counter-terrorist financing laws.
Supporters argue that clear regulations will boost investment and integrate crypto into the national financial system. However, critics caution against excessive restrictions that could push businesses abroad. Some investors stress the importance of fair taxation, warning that heavy tax burdens could discourage crypto adoption rather than support its growth.
The bill, covering areas such as consumer protection, marketing rules, education, and taxation, aims to create a balanced approach. While debates continue, Colombia faces a crucial decision—whether to foster innovation or risk falling further behind in the global crypto market.
For more information on these topics, visit diplomacy.edu.
The US Securities and Exchange Commission (SEC) has clarified that meme coins do not qualify as securities under federal law, providing long-awaited regulatory guidance for the speculative crypto niche. According to a statement from the agency’s Division of Corporation Finance on 27 February, meme coins fail to meet the legal definition of an ‘investment contract’ under the Howey test, which determines whether an asset falls under securities regulations.
Unlike traditional securities, meme coins are typically purchased for entertainment and social engagement rather than as structured investments, the SEC explained. The agency compared them to collectables, noting that their prices are driven by market sentiment rather than centralised management or pooled investor funds. However, it warned that fraudulent activities involving meme coins could still face enforcement actions under other financial laws.
This clarification marks a potential shift in the SEC’s regulatory approach, as meme coins have long existed in a legal grey area despite their growing popularity in online trading. While the statement does not carry legal weight, experts believe it signals a more nuanced stance on speculative digital assets. Even with this regulatory relief, the SEC reaffirmed that new variations of meme coins designed to sidestep securities laws would still face scrutiny.
For more information on these topics, visit diplomacy.edu.
