Belarusian President Alexander Lukashenko has mandated the creation of new regulatory norms for the cryptocurrency sector, showcasing state control interests in this area.
New Presidential Directives
During a government conference on September 5, 2025, Lukashenko called for the establishment of 'understandable and transparent rules of the game' for the digital asset industry. This statement followed an unplanned inspection of cryptocurrency platform operators, which uncovered violations. According to the President, the violations involved irregularities in the registration of financial transactions and failure to return funds transferred abroad by Belarusian investors in half of the documented cases. 'It won’t do,' said Lukashenko.
Changing Regulatory Approach
Lukashenko indicated that instructions for developing these regulations were initially issued in 2023, but approved documents have yet to be presented. He emphasized that the current regulatory 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 Future of Hi-Tech Park and Regional Impact
This development marks a significant pivot from Belarus’s earlier, more lenient stance on cryptocurrencies to a more controlled and state-managed approach. The government’s new directive reflects a growing global trend among regulators seeking to balance the promotion of technological innovation with the crucial need for investor protection. 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.
Thus, Belarus is taking steps toward stricter regulation of the cryptocurrency sector, which may significantly alter the landscape of the digital economy in the country and impact other states striving for social and financial oversight in this area.
