Belarus crypto regulation aims to create clear, transparent rules for digital tokens and mining, balancing state control with industry growth. President Aleksandr Lukashenko ordered lawmakers to formalize rules, designate agency roles, and integrate Hi‑Tech Park oversight to manage circulation and taxation of cryptocurrencies.
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Clear regulatory mandate: Presidential decrees (No. 80, No. 367) direct lawmakers to define rules and controls for crypto.
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State-led oversight will involve government agencies and the Hi‑Tech Park to centralize exchange activity and mining operations.
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Recent measures ban peer-to-peer trading outside Belarusian exchanges to ensure transparent, controlled circulation of digital tokens.
Belarus crypto regulation: President Lukashenko orders lawmakers to set transparent crypto rules and mining policies — read the policy summary and next steps.
What is Belarus crypto regulation?
Belarus crypto regulation is a state-directed framework initiated by presidential decrees to formalize rules for digital tokens, exchanges, and mining. The government seeks transparent circulation, defined agency roles, and restrictions on peer-to-peer trades to retain oversight and fiscal control.
How will Belarus implement cryptocurrency rules?
Implementation will follow legislative drafting and regulatory clarifications ordered by President Aleksandr Lukashenko. Lawmakers are instructed to define roles for state agencies and the Hi‑Tech Park, establish licensing or exchange requirements, and create monitoring mechanisms for mining and token circulation.
Alexander Lukashenko. Source: Wikimedia
Belarusian President Aleksandr Lukashenko instructed lawmakers to create clear and transparent rules for the country’s cryptocurrency market.
Belarusian President Aleksandr Lukashenko instructed lawmakers to develop transparent rules for the country’s cryptocurrency market. The directive reinforces two earlier presidential initiatives aimed at structuring digital token circulation and mining activities.
According to a Friday report by the local news agency Belarusian Telegraph Agency, Lukashenko said during a recent government conference that Belarus must keep up with global trends. He stated: “The task of the state in these conditions is to determine understandable, transparent rules of the game and mechanisms for control in this sphere. It is important because it is a new area for the country.”
Why did Lukashenko call for new crypto rules?
President Lukashenko cited the need to modernize regulation to match technological change and economic opportunities. In 2023 he issued instructions to comprehensively regulate digital tokens and cryptocurrencies under Presidential Decree No. 80, initiating a formal legislative process.
What do the decrees require?
Decree No. 80 set the initial mandate to develop a national crypto framework. Subsequent action led to Decree No. 367, which restricts individuals and Hi‑Tech Park residents from buying and selling cryptocurrency outside Belarusian crypto exchanges to maintain controlled circulation.
“This is intended to promote the development of a transparent and controlled circulation of digital tokens, primarily cryptocurrency,” the decree states, reflecting a policy preference for regulated, on‑shore exchange activity rather than permissionless peer‑to‑peer markets.
Belarus shows interest in crypto — what incentives are on the table?
The president emphasized potential economic gains from mining where the country has excess electricity. Lukashenko instructed the energy ministry in March to begin developing the cryptocurrency mining industry, suggesting incentives could include dedicated tariffs, licensing, or Hi‑Tech Park support for mining operators.
“Look at this mining,” Lukashenko said. “If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency and so on.”
How restrictive are the new rules?
While Belarus signals openness to crypto industry activity, the legal framework aims to limit decentralized, permissionless trading. The law enacted in mid‑September (Decree No. 367) introduced a ban on individuals, including Hi‑Tech Park resident entrepreneurs, from transacting crypto outside Belarusian exchanges.
Policy intent is to ensure state control, tax compliance, and traceable token flows. Enforcement details and exchange licensing criteria are expected to be clarified in forthcoming legislation and secondary regulations.
Frequently Asked Questions
Can Belarusian residents trade crypto peer-to-peer?
No. Under Decree No. 367, individuals and certain entrepreneurs are prohibited from buying or selling cryptocurrency outside Belarusian crypto exchanges; peer-to-peer trading is restricted to preserve controlled circulation.
Will Belarus allow crypto mining?
Yes. The government is evaluating mining development; officials cited excess electricity and economic benefit as reasons to permit and potentially incentivize licensed mining operations.
Which agencies will oversee crypto?
The government plans to clarify the roles of state agencies and the Hi‑Tech Park in regulation and oversight, assigning responsibilities for exchange registration, monitoring, and enforcement.
Key Takeaways
- State-led framework: Belarus prioritizes clear, transparent regulation for digital tokens to retain oversight.
- On‑shore trading: Decree No. 367 restricts peer‑to‑peer activity and channels transactions through Belarusian exchanges.
- Mining opportunity: Government interest in licensed mining is driven by excess electricity and potential economic gain.
Conclusion
Belarus crypto regulation reflects a pragmatic approach: encourage industry activity such as mining while imposing controls to ensure transparent circulation and state oversight. Observers should watch for draft legislation that clarifies licensing, exchange standards, and enforcement timelines. COINOTAG will monitor developments and provide updates as rules are published and implemented.
