Lukashenko Pushes Crypto Adoption in Belarus

Belarusian President Alexander Lukashenko called for crypto and cash adoption to counter sanctions, ordering banks to improve regulation and protect customers.

Crypto as a tool for resilience

Belarusian President Alexander Lukashenko has urged the country’s financial sector to accelerate the integration of cryptocurrency and cash transactions into the economy. He argued that such instruments are vital for ensuring stability amid international sanctions.

According to Lukashenko, cryptocurrency-based transactions are becoming more common and play a growing role in payments. Therefore, the market now requires regulatory oversight, which he instructed financial authorities to implement without delay.

Criticism of banks and reforms

The president criticized banks for mistreating clients, including forcing insurance policies, refusing old dollar bills, and misusing lending practices. He warned that starting in 2026, such actions would trigger disciplinary measures.

Lukashenko also ordered the rollout of an instant payment system by the end of the year to enable real-time transfers and strengthen liquidity.

Belarus aims to become a crypto hub

Earlier this month, Lukashenko pressed regulators to finalize a legal framework for cryptocurrencies, highlighting his vision of Belarus as a crypto-friendly hub.

According to local media, Belarus’ gold and foreign exchange reserves climbed to $12.5 billion, supported by rising gold prices. Meanwhile, the country has embraced de-dollarization, reportedly selling up to $30 million in foreign cash daily this year.