Lukashenko Orders Fast-Track of Belarus Crypto Regulation

TLDR

• President Aleksandr Lukashenko has urged officials to speed up the process of crypto regulation in Belarus.
• He emphasized that the crypto industry is expanding faster than the country’s legal framework can support.
• Lukashenko stated that clear and transparent rules are essential to ensure control and stability in the crypto sector.
• The current system managed by Hi-Tech Park under Ordinance No. 8 is no longer sufficient to address present challenges.
• A government inspection revealed major issues in crypto platform operations including unregistered financial transactions.

Belarus President Aleksandr Lukashenko has instructed officials to quickly finalize crypto regulation amid rising market activity and risks. He emphasized the urgency during a digital economy conference, citing financial outflows and regulatory gaps as key concerns. The country’s outdated legal framework prompted the directive to establish clear rules and oversight in the crypto sector.

Lukashenko Orders Urgent Action on Crypto Regulation

Lukashenko directed officials to complete the regulatory process for digital assets without further delay. He noted that although crypto regulation started earlier, no final proposals have reached his desk.

He stressed the sector is expanding rapidly while existing laws fall behind in scope and coverage. This mismatch creates vulnerabilities and weakens financial oversight mechanisms. Hence, Lukashenko urged regulators to act decisively.

He stated that government bodies must ensure crypto regulation creates “understandable, transparent rules” and prevents misuse. Clear standards are essential for stability. Lukashenko confirmed that the goal is not to restrict innovation but to ensure responsible development.

Current System Under Strain as Risks Grow

The Hi-Tech Park remains the central body managing token issuance, trading, and operations under Ordinance No. 8. However, this structure no longer meets the demands of the evolving digital environment. Lukashenko acknowledged that the law’s original benefits are now limited.

The State Control Committee recently conducted an unscheduled inspection of crypto platforms. It discovered serious registration and transaction irregularities. According to Lukashenko, financial outflows were among the most pressing issues found.

The findings highlighted weak enforcement and risks to both public trust and national capital. Therefore, Lukashenko called for tighter crypto regulation and stricter supervision.

Balanced Approach to Support Innovation

Despite the problems, Lukashenko reaffirmed that Belarus will not block progress in the digital economy. He emphasized that crypto regulation must support fair businesses and attract global investments. Responsible entities must be allowed to operate freely under legal protections.

The president stressed a balanced approach to maintain market trust and economic growth. He also called for stability in crypto regulation to protect citizens and businesses.

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