President Lukashenko urges lawmakers to set transparent rules while balancing innovation and state control
Belarus is moving closer to a structured cryptocurrency framework as President Aleksandr Lukashenko called on lawmakers to establish clear and transparent rules for digital assets. The directive underscores the country’s desire to embrace blockchain innovation while ensuring state oversight of trading and mining activities.
Belarus Seeks Regulatory Clarity
At a recent government meeting, Lukashenko emphasized that the rapidly evolving crypto industry requires rules that are easy to understand.
“The task of the state is to determine transparent rules of the game and mechanisms for control. This is important because it is a new area for the country,” he said.
His comments referenced the 2023 Presidential Decree No. 80, which laid out the groundwork for a national crypto policy, signaling Belarus’s intent to integrate digital tokens into its economy.
Belarus also sees potential in cryptocurrency mining. With excess electricity capacity, the government has encouraged the energy ministry to explore the sector as a profitable use of resources.
“If mining is profitable for us, let’s do it. We have the energy, let them make cryptocurrency,” Lukashenko noted.
This approach highlights how crypto mining could transform Belarus’s surplus power into new revenue streams, positioning the country as a regional player in blockchain infrastructure.
Tightening Control on Trading
Despite its interest in innovation, Belarus has taken a cautious stance on decentralized transactions. In 2023, the government introduced Decree No. 367, which banned peer-to-peer crypto trading outside licensed exchanges. The policy aims to ensure that all cryptocurrency flows remain within state-regulated platforms, reinforcing transparency but limiting individual freedoms.
Belarus’s latest push reflects a dual strategy: promoting innovation in mining and blockchain while tightening control over trading channels. For investors and businesses, the call for a clear regulatory framework could improve confidence — but also signals that crypto in Belarus will remain firmly under state supervision.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.