Crypto exchange turnover in Belarus will reach $3 bln in 2025 - Lukashenko

MINSK. Sept 9 (Interfax) - External payments through Belarusian crypto exchanges may reach $3 billion this year, Belarusian President Alexander Lukashenko said.

"Today, more than ever, settlements using cryptocurrencies are being actively conducted, and their role in facilitating payments is increasing. Over seven months of this year, external payments through crypto exchanges amounted to $1.7 billion. According to expert estimates, by the end of the year it could reach $3 billion," Lukashenko was quoted as saying by the state agency BelTA.

A market of this size requires transparency, effective regulation and reasonable control. "The government and the National Bank have been given corresponding instructions. Proceed," Lukashenko said.

It is necessary to expand the scope of application of digital tokens. "The use of tokens in the financial sphere allows for minimizing the presence of intermediaries, automating transactions through smart contracts, and enhancing users' control over their assets," he said.

The National Bank of Belarus said last week that Lukashenko supported the creation of a crypto bank in the country. Within a month, the National Bank and the government will prepare a corresponding draft decree.