Belarusian President Lukashenko urges lawmakers to deliver a clear crypto framework, aiming to protect investors and position Belarus as a digital haven.
Belarus President Aleksandr Lukashenko has renewed his calls for a clear crypto framework. Lukashenko spoke at a government meeting and urged regulators to create transparent rules for digital tokens and cryptocurrency.
He stressed that the country needs to keep pace with the rest of the world, while making sure of stability and investor protection.
Lukashenko criticised delays in implementing his earlier instructions from 2023.
He pointed out that despite issuing Decree No. 80 to guide regulation, lawmakers had yet to get anything done.
“The task of the state is to determine understandable, transparent rules of the game and mechanisms for control,” he said.
Lukashenko’s remarks came after a report by the State Control Committee showed issues with local crypto operations. Inspectors found violations in transaction records and pointed out cases where funds sent abroad by investors did not return.
This situation, he said, was unacceptable.
According to Lukashenko, stronger oversight is needed to make sure that local investors can participate safely. The goal is to create a balance between protecting citizens and keeping Belarus open to innovation.
A major part of Belarus’ digital policy involves Hi-Tech Park, a special economic zone created to boost IT development. The president said that regulators and Hi-Tech Park should split responsibilities to make sure that oversight is more efficient.
He explained that Hi-Tech Park’s expertise in managing the digital economy makes it well-suited to handle tasks like licensing and compliance. Businesses, both local and foreign, should be able to “work calmly in our digital haven,” he added.
Earlier this year, Lukashenko raised the idea of turning surplus electricity into a resource for crypto mining. He told his energy minister that if mining made economic sense, Belarus should embrace it.
Other nations are already looking into similar strategies. Bhutan has developed over 100 megawatts of Bitcoin mining capacity, while El Salvador is investing in geothermal-powered mining.
Lukashenko noted that Belarus could follow this path, especially given that even the United States has considered creating a strategic crypto reserve.
Belarus wants to set itself up as a crypto-friendly p; ace. Lukashenko’s comments about building a “digital haven” show that he intends to attract foreign investment and encourage domestic startups.
Hi-Tech Park offers tax incentives and legal flexibility to IT companies.
Its rules also apply extraterritorially, as it allows firms to serve international clients regardless of location. Lukashenko believes that with the right framework, Belarus could strengthen its reputation as a defi and blockchain hub.
Belarus President Aleksandr Lukashenko has put crypto back on the agenda by demanding a clear framework for defi assets. His call shows both frustration at delays and urgency to align Belarus with the rest of the world.
Now with Hi-Tech Park as a foundation, Belarus could establish itself as a digital haven. What remains now is how to turn presidential directives into effective actions that protect investors and harness the country’s resources for growth.
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