The President of Belarus calls on banks to expand the use of cryptocurrencies as sanctions take effect.

Belarusian President Alexander Lukashenko called on domestic banks to expand the application of cryptocurrencies to mitigate the impact of EU and America sanctions. He stated that the economy and banking system have been under significant pressure for the past five years, urging the Central Bank and financial institutions to take immediate action. According to data, the volume of transactions through cryptocurrency exchanges in Belarus reached 1.7 billion USD in the first seven months of 2025 and could hit 3 billion USD by the end of the year, while the number of users is expected to exceed 855,000 by 2026. Lukashenko also promoted the development of digital payment systems, starting with QR codes, and encouraged the adoption of biometric technology and AI to enhance efficiency. Belarus has a relatively flexible cryptocurrency policy, having legalized trading and mining since 2018, but still maintains strict controls, requiring transactions to occur through domestic exchanges.