Roman Golovchenko
MINSK, 12 August (BelTA) – The National Bank of the Republic of Belarus (NBRB) has prepared drafts of legislative decisions that will allow securing breakthrough results in the usage of cryptocurrencies and digital financial assets. Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Roman Golovchenko made the statement after delivering a report on the banking system’s performance to Belarus President Aleksandr Lukashenko on 12 August, BelTA has learned.
The National Bank head described the operation of the cryptocurrency market in Belarus as a very important topic. At present the country’s cryptocurrency market operates via cryptocurrency exchange offices, cryptocurrency exchanges that are registered in the Hi-Tech Park. “Trade turnover of these platforms grows rather confidently and demonstrates solid figures. It is understandable that cryptocurrencies are here to stay. This is why it is necessary to very correctly and timely get ourselves integrated into this mainstream,” Roman Golovchenko said.
Roman Golovchenko presented the main approaches the National Bank has worked out on the matter to the head of state on 12 August. In his words, the regulation of the cryptocurrency market was not the only topic during the conversation.
“The parameters set by the president’s Ordinance No.8 with regard to digital financial assets and to tokens need to be updated to a certain degree because the sphere of application of cryptocurrencies and digital financial assets as a whole has expanded since then. And we see prospects not only in the field of regulation in order to prevent economic damage. We have certain proposals on how to achieve some breakthrough results from the point of view of engaging the cryptocurrencies and the digital financial assets as part of our financial policy,” the NBRB head said. These approaches were reported to Aleksandr Lukashenko and the president supported them as a whole. “It is obvious that details will be discussed at a special conference soon. The National Bank has concrete drafts of regulatory acts on the matter,” he said.
BelTA reported earlier that as he was receiving the report on the performance of the banking system on 12 August, the president wondered about further actions with regard to cryptocurrencies and the cryptocurrency market.
“The cryptocurrency market, cryptocurrencies. What are they and how will you and I tackle this problem?” the head of state told Roman Golovchenko figuratively speaking. “How will we use them, particularly now in order to ensure payments? There is a lot of talk about it but after all the Belarusian cryptocurrency market is not so much developed after all. How will we act in the future?”
Aleksandr Lukashenko remarked that the matter had been discussed back when Pavel Kallaur was in charge of the National Bank. “We raised the matter. IT professionals contacted us, saying it is necessary to act in this direction. How will we [act in the end]? It is important for me and for the country as a whole,” the president said.
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