MINSK, 9 September (BelTA) – Cryptocurrency-based transactions are now more active than ever before, Belarusian President Aleksandr Lukashenko said at a meeting with the management of Belarus’ National Bank and heads of commercial banks on 9 September, BelTA has learned.
At the meeting, the Belarusian president set the task to expand the scope of application of digital tokens, which is one of the most important areas of the digital development of the national economy.
According to him, the use of tokens in the financial sector helps to minimize the presence of intermediaries, automate the execution of transactions through smart contracts, and enhance users’ control over their assets.
“Today, cryptocurrency-based transactions are more active than ever, and their role in facilitating payments is growing. In the seven months of this year, the volume of external payments through cryptocurrency exchanges amounted to $1.7 billion. According to expert estimates, it may reach $3 billion by the end of the year,” the head of state said.
The Belarusian president emphasized that a market of this magnitude requires transparency, effective regulation, and reasonable control. “The government and the National Bank have been given corresponding instructions. Now, act,” the head of state added.
According to him, the use of tokens in the financial sector helps to minimize the presence of intermediaries, automate the execution of transactions through smart contracts, and enhance users’ control over their assets.
“Today, cryptocurrency-based transactions are more active than ever, and their role in facilitating payments is growing. In the seven months of this year, the volume of external payments through cryptocurrency exchanges amounted to $1.7 billion. According to expert estimates, it may reach $3 billion by the end of the year,” the head of state said.
The Belarusian president emphasized that a market of this magnitude requires transparency, effective regulation, and reasonable control. “The government and the National Bank have been given corresponding instructions. Now, act,” the head of state added.
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