Belarusian President Aleksandr Lukashenko has mandated the creation of a regulatory framework for the country’s cryptocurrency sector, showing state-control interests. The directive, issued during a government conference on September 5, 2025, aims to establish “understandable, transparent rules of the game” for the digital asset industry.
The call for enhanced regulation follows an unscheduled inspection of cryptocurrency platform operators, which uncovered violations.
After an unplanned examination of bitcoin platform operators. According to the President, these included irregularities in the registration of financial transactions and a failure to return funds transferred abroad by Belarusian investors in half of the documented cases. “It won’t do,” said Lukashenko, expressing dissatisfaction with the current state of affairs.
Lukashenko further noted that instructions to develop these regulations were initially given in 2023, but approved documents have yet to be presented.
Shifting Regulatory Landscape
Belarus initially embraced the digital economy with the 2017 signing of Ordinance No. 8, “Digital Economy Development,” which established the Hi-Tech Park as the primary regulator for the crypto industry. While acknowledging the ordinance was a pioneering step, Lukashenko emphasized that the current framework is insufficient to protect citizens and the state.
“The task of the state in these conditions is to determine understandable, transparent rules of the game and mechanisms for control in this sphere,” he remarked. The government’s new focus will be on creating a secure environment that allows legitimate businesses to operate while preventing illegal financial activities.
This development marks a significant pivot from Belarus’s original, more lenient stance on cryptocurrencies to a more controlled and state-managed approach. The government’s new directive reflects a growing global trend of regulators attempting to balance the promotion of technological innovation with the critical need for investor protection and financial stability.
The forthcoming regulations will be a key indicator of the future of Belarus’s Hi-Tech Park and its ambition to remain a leader in the digital technology sphere, potentially setting a precedent for other nations in the region navigating the complexities of digital asset oversight.
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