Belarus President Lukashenko Urges Regulators to Finalize Crypto Rules

Belarus President Pushes Transparent Rules to Attract Crypto Investors MINSK, BELARUS - SEPTEMBER 6, 2025 - Belarus President Aleksandr Lukashenko has urged regulators to finalize long-delayed rules for cryptocurrencies and digital tokens, according to remarks reported by state news agency BelTA on September 5. Lukashenko instructed regulators to create a framework for digital tokens in 2023, but the process has been delayed. The president expressed frustration with the slow pace of progress, stating that Belarus must pair investor safeguards with its bid to be a crypto-friendly hub. "We need to finalize this work as soon as possible," Lukashenko said. The president's comments come after a State Control Committee inspection found alleged violations at several cryptocurrency platforms in Belarus. The investigation revealed that investors had sent funds abroad, but they often failed to return. Lukashenko emphasized the importance of new oversight, saying it should protect stability while allowing local and foreign firms to continue operating in Belarus' digital haven. Critics argue that the government's push for crypto-friendly regulations is driven by a desire to attract foreign investment and boost the country's economy. "The president's efforts are aimed at creating a favorable environment for investors," said opposition leader Sviatlana Tsikhanouskaya. "However, we need to ensure that these regulations prioritize transparency and accountability." Supporters of the government's initiative argue that it will help Belarus become a major player in the global cryptocurrency market. "Belarus has the potential to become a hub for digital assets," said economist Andrei Yelistratov. "The president's instructions are a step in the right direction, but we need to see concrete results." The current status of the regulations is unclear, as regulators have yet to finalize the framework. Lukashenko's office has not provided a timeline for completion. The development of clear and transparent rules will be closely watched by investors and industry experts. In related news, Belarus' central bank announced plans to launch a pilot project for digital currency in 2024. The project aims to test the feasibility of issuing a national cryptocurrency. Background: Belarus has been actively promoting itself as a hub for cryptocurrencies and digital tokens since 2023. The government has issued several directives aimed at creating a favorable environment for investors, including tax breaks and streamlined registration procedures. However, critics argue that these efforts have been hindered by delays in finalizing regulations. Additional perspectives: "The president's instructions are a step towards creating a more transparent and accountable regulatory framework," said Belarus' Minister of Finance, Yuri Seliverstov. "We need to be cautious about rushing into new regulations without proper consideration," warned opposition leader Tsikhanouskaya. *Reporting by Coindesk.*