Lukashenko held a meeting on September 5 on the development of the digital signage sphere

The President recalled that Belarus was among the first in the world to make a decision at the state level to create conditions for the development of digital technologies for the civil circulation of digital signs. Or, as they are also called, tokens, cryptocurrency. In 2017, the Head of State signed Decree No. 8 "On the Development of the Digital Economy", which entered into force in 2018 and created unprecedented conditions for the development of the IT industry, providing the country with serious competitive advantages in the formation of the digital economy. "Back then, in 2017, many, to put it mildly, were skeptical about the decision, since we were really setting foot on virgin soil. There were no answers to most of the questions, not even "at all," the Head of State noted. The experts' concerns were primarily explained by the fact that cryptocurrency is created and circulated at the junction of two complex areas - finance and the latest technologies. Therefore, it was difficult to foresee all possible risks and threats.

Eight years have passed since that landmark decision was made, but the topic has not lost its relevance, the President noted. "On the contrary. Today, the idea of ​​developing digital signs is being actively promoted in many leading countries of the world. At the same time, the main functions of cryptocurrencies have become clearly evident," the Head of State said.

Firstly, digital signs began to be used as an alternative to traditional means of payment, although often, it happens, for criminal purposes. Secondly, "crypto" has become a source of investment and good income for citizens and companies around the world. And thirdly, countries began to create state reserves in cryptocurrencies.

At the same time, the President, based on the principle of a systemic, comprehensive and critical assessment of any processes, asked the responsible persons which countries in the world - specific examples - have achieved significant success and financial benefits thanks to cryptocurrency.

In parallel with the active use of cryptocurrency, the creation and development of the corresponding infrastructure with the prefix "crypto" is underway - exchanges, brokers, consultants, etc.

In the Belarusian HTP at the end of 2024, there were 14 such companies, and now there are 18. Last year, they served almost 260 thousand clients around the world, and this year - already more than 300 thousand. "Well done," the President assessed, but at the same time emphasized that the return on all this should also be for the state. The volume of foreign trade transactions in the field of digital signs in 2024 exceeded $1.2 billion. In the first seven months of 2025, the turnover reached $1.7 billion, and by the end of the year it could amount to $3 billion.

"That is, it seems that you have both the competencies and potential there," stated Alexander Lukashenko. "It is important for us not to lose sight of the trends and not to lose our technological leadership. Naturally, whoever sets the trends gets the maximum benefit. God willing, we will be able to set this trend and in this regard not put the cart before the horse."

"The task of the state in such conditions is to define clear, transparent rules of the game and control mechanisms in this area," said Alexander Lukashenko. - This is important, since this is a new direction for the country, although transparent rules of the game must be defined everywhere. That is why back in 2023 I gave a number of instructions to ensure comprehensive regulation of the sphere of digital signs, cryptocurrencies. However, I still have no agreed documents on my desk."

The Belarusian leader noted that today the activities of creating, issuing and selling/buying tokens are largely regulated by the High-Tech Park. "It is clear that this is happening within the framework of Decree No. 8 ("On the Development of the Digital Economy". - Ed.)," he added.

As the State Control Committee reports, the results of an unscheduled inspection of crypto platform operators indicate the need for more fine-tuning of such activities. "In particular, violations were found in the registration of financial transactions. In half of the cases, the funds of Belarusian investors transferred abroad are not returned," the President said. "This will not work."

According to the Belarusian leader, digital life is actually starting to outpace law today, or rather, initiates the creation of its new branches. Thus, he emphasized, based on the results of the meeting, it is necessary to clearly define the tasks of state bodies and the Hi-Tech Park in the field of crypto technologies, taking into account the existing experience and competencies. In addition, the President set the task of outlining key, fundamental points in the new legal regulation, which will allow bona fide business entities from Belarus and foreign investors to "continue to work calmly in our digital haven." This also guarantees financial stability, security for the state, citizens and businesses.