MINSK, 5 September (BelTA) – Belarusian President Aleksandr Lukashenko is holding a meeting to discuss the development of the digital currency sector in Belarus on 5 September, BelTA has learned.
The president recalled that Belarus was among the first countries in the world to create conditions for the development of cryptocurrency and the use of digital tokens in the civilian sector at the state level. In 2017, the head of state signed Decree No. 8 “On the Development of the Digital Economy”, which came into force in 2018. It created favorable conditions for the growth of the IT industry and gave the country significant competitive advantages in shaping its digital economy.
“At that time, in 2017, the decision was viewed with skepticism by many, mildly speaking, as we were truly stepping onto uncharted territory. There were simply no answers to most questions,” the head of state noted. Experts’ concerns were primarily due to the fact that cryptocurrency is created and circulated at the intersection of two complex spheres: finance and advanced technology. Therefore, it was not easy to foresee all possible risks and threats.
Eight years have passed since that landmark decision, but the topic remains relevant, the president pointed out. “Moreover, today, the idea of developing digital tokens is being actively promoted in many leading countries of the world. At the same time, the main functions of cryptocurrencies have become clearly evident,” he said.
First, digital tokens have begun to be used as an alternative to traditional means of payment, although sometimes for criminal purposes. Second, cryptocurrency has become a source of investment and a good income for citizens and companies around the world. And third, countries have begun to create state reserves in cryptocurrencies.
Proceeding from the principle of a systematic, comprehensive, and critical assessment of any processes, the president requested concrete examples from the responsible officials: which specific countries in the world have achieved significant success and financial benefits thanks to cryptocurrency.
Alongside the active use of cryptocurrency, the creation and development of the corresponding “crypto” infrastructure is underway: exchanges, brokers, consultants, and more.
In 2024, Belarus’ Hi‑Tech Park hosted 14 companies involved in the use of cryptocurrency. Now, there are 18 such companies. Last year, they served almost 260,000 clients worldwide, and this year the number has exceeded 300,000. “Well done,” the president said, emphasizing that the state should also benefit from this. The volume of foreign trade operations in the digital currency sector exceeded $1.2 billion in 2024. In January-July 2025, it reached $1.7 billion, and this figure is expected to amount to $3 billion by the end of the year.
“So, it seems you have both the expertise and the potential,” Aleksandr Lukashenko stated. “It is important for us not to lose sight of the trends and our technological leadership. Certainly, whoever sets trends is the one who benefits the most. God willing, we will be able to set this trend and, in this regard, not put the cart before the horse.”
“The task of the state in these conditions is to determine understandable, transparent rules of the game and mechanisms for control in this sphere,” Aleksandr Lukashenko said. “It is important because it is a new area for the country, although transparent rules of the game must be defined everywhere.”
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