Belarusian President Alexander Lukashenko called on banks and financial regulators to expand cryptocurrency usage to mitigate effects of Western sanctions during meetings in September 2025.
The directive encourages crypto-based cross-border solutions, addressing economic challenges while highlighting Belarus’s evolving approach to digital currencies.
Belarus President Alexander Lukashenko has urged banks and regulators to expand cryptocurrency use to counteract economic challenges from Western sanctions. His directive calls for the National Bank to support crypto-based solutions for cross-border payments by businesses.
Alexander Lukashenko, known for consolidating state control, spoke at government meetings in September 2025. He directed financial institutions to facilitate crypto use, emphasizing the shift towards cross-border payments via decentralized digital assets like Bitcoin.
The directive could impact financial stability, regulatory frameworks, and international trade flows. Banks may turn to crypto solutions to ease trade disruptions. Potential $3 billion annual crypto flow expected by year’s end.
“According to expert estimates, it may reach $3 billion by the end of the year… The government and the National Bank have been given corresponding instructions. Now, act.” — Alexander Lukashenko, President of Belarus
Potential financial outcomes include the diversification of payment channels and escalation in crypto transaction volumes. Historics have shown that Belarus’s regulatory landscape often prioritizes control, which may affect decentralized solutions. The emphasis remains on transparent rules for crypto use.
Previous initiatives saw Belarus attracting crypto projects through tax incentives under its Hi-Tech Park initiative in 2017. In 2023, Belarus faced liquidity issues after restricting P2P crypto transactions. These trends highlight a history of state-managed crypto adoption.
Kanalcoin experts predict a potential increase in crypto adoption as Belarus seeks alternatives to traditional finance due to sanctions. Data suggests a shift from fiat to decentralized assets amid trade challenges. The state’s regulatory approach remains a vital factor.
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