The head of state’s office emphasized that the ban on transactions with virtual assets is being introduced not only for individuals, but also for entrepreneurs.
“The document was adopted in order to increase the security of citizens when making transactions with digital signs (tokens), as well as to eliminate the possibility of cryptocurrency being involved in fraudulent and other illegal activities,” explained representatives of Lukashenko’s administration.
The Council of Ministers, together with “interested bodies,” has been tasked with proposing a punishment, “administrative liability,” for violating the requirements of the decree by June 1, 2025.
The Belarusian authorities hope that the ban will contribute to the “development of a transparent and controlled” national crypto market, as well as “prevent fraudsters from withdrawing funds stolen “by exchanging them for cryptocurrency on foreign crypto exchangers” from the country.
Cryptocurrency exchanges registered in the Minsk High-Tech Park are considered legal in Belarus.
Earlier, journalists from the Minsk publication Ekonomicheskaya Gazeta stated that the state-owned company Center for Banking Technologies, a partner of the National Bank of the Republic of Belarus, had begun developing a platform for the digital Belarusian ruble.
