Belarus drafts bill to introduce digital ruble
10:32, 8 September
Photo: BelTA
Belarus has developed a bill on a digital Belarusian ruble, First Deputy Chairman of the Board of the National Bank Aleksandr Yegorov told the Belarus 1 TV channel, BelTA reports.
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“We have developed a draft law for a digital Belarusian ruble, alongside the ongoing technological work to build its platform,” Aleksandr Yegorov said.
He stated that in practice, the digital currency would serve two primary functions. Its foremost application would be to control the use of budget funds. The technology enables the precise tracking of government money, allowing authorities to trace its path all the way to the final recipient.
A second key focus is enabling cross-border payments. “With numerous national digital currencies in development, future interoperability is inevitable. This requires a common technological foundation. Therefore, we are building the digital Belarusian ruble on blockchain technology specifically so it can integrate with other countries’ systems. The ultimate goal is to facilitate direct trade between nations using our respective national currencies, bypassing the need for foreign currencies,” he said.
Aleksandr Yegorov added that the entire regulatory and technical framework will be ready by the end of next year.
