Belarus creates working group to stop illicit cryptocurrency operations
By Angel Di Matteo @shadowargel
He National Bank of Belarus promotes a new strategy to combat illicit operations with digital assets, while promising to continue supporting the crypto market that operates under the laws currently in force.
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- He National Bank of Belarus will form a special group to pursue unauthorized cryptocurrency operations.
- The measure comes after a meeting between bankers and companies registered in the Belarusian High-Tech Park.
- Lukashenko’s government seeks to strengthen regulation in the face of the rise of cross-border trade in crypto assets.
He National Bank of the Republic of Belarus (NBRB)the country’s highest financial authority, announced the creation of a working group aimed at combating illegal cryptocurrency transactions. The new entity will focus on unauthorized payments and unlicensed international transfers, according to the regulator itself.
The decision was made during a meeting headed by Deputy Governor Alexander Egorov, in which representatives of Belarusian banks and government-approved crypto companies participated. The meeting discussed how to avoid the use of registered platforms to send illicit funds abroad, a problem that authorities consider growing in the informal economy.
Local media, reviewed by Cryptopolitan, They reported that attendees agreed on the need to apply comprehensive solutions to stop illegal schemes linked to the use of cryptoassets.
Regulator seeks balance between innovation and control
During the meeting, Egorov noted that the cryptocurrency market continues to expand in Belarus and that he National Bank “supports its development”but insisted on the importance of combating fraud through coordinated efforts.
The creation of the new working group was one of the main agreed measures. This body will be in charge of identifying suspicious financial flows and strengthening supervision mechanisms over operations with digital assets within the country.
Belarus was one of the first Eastern European countries to establish a legal framework for cryptocurrencies. President Alexander Lukashenko signed the decree in 2017 “On the development of the digital economy”which legalized the mining and trading of crypto assets. Since then, companies dedicated to “digital tokens” must register in the High Technology Park (HTP), a center with tax benefits for the technology industry.
Prohibitions and control of crypto capital
However, the initial push has been combined with restrictive measures. In September 2024, financial authorities prohibited natural persons and entrepreneurs registered in the HTP operate on foreign cryptocurrency exchanges.
The ban sought to stop capital flight and prevent foreign platforms from being used to move illicitly obtained funds. The measure also reflected the government’s concern about the use of cryptocurrencies as a way to evade international sanctions, a situation similar to that of Russia, its main ally.
Despite the limitations, the popularity of cryptocurrencies among Belarusian citizens and businesses continues to rise. International sanctions have reduced the country’s access to traditional financial channels, pushing many economic actors towards the use of crypto assets for foreign trade.
Crypto trading boom in Belarus
Lukashenko himself recently recognized the growth of this phenomenon. In September 2025, the president revealed that cross-border transactions with cryptocurrencies reached a record of USD $1.7 billion in the first seven months of the year, and could reach USD $3 billion before the end of December.
“Today, cryptocurrency-based operations are more active than ever, and their role in payments continues to grow”declared Lukashenko, underlining the importance of the sector for the national economy.
In line with that trend, the Russian e-commerce company Wildberries —one of the largest in the region— last month enabled cryptocurrency payments in Belarus, through the local exchange Whitebird, registered in the HTP.
New reforms on the way
The Belarusian government now plans to update the legal framework regulating the use of cryptocurrencies. Days before the announcement about the record transactions, Lukashenko called for accelerating the modernization of current regulations, arguing that “The industry moves faster than legislation.”
In August, the governor of NBRB, Roman Golovchenko reported that the central bank had already drafted amendments to strengthen the regulated use of cryptoassets in the country, highlighting that the objective is to achieve “high impact results” in the adoption of this technology.
Meanwhile, the government maintains a dual stance: promoting the expansion of the regulated ecosystem and at the same time tightening surveillance on actors operating outside established legal frameworks.
Belarus thus seeks to position itself as a controlled crypto center, capable of attracting technological investment without losing state control over financial flows.
Article written with the help of an AI content writer, edited by Angel Di Matteo / DailyBitcoin
Original image from DiarioBitcoin, created with artificial intelligence, free to use, licensed under Public Domain.
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