The National Bank of Belarus is forming a working group to combat illegal cryptocurrency transactions. The new body will focus on unlicensed cryptocurrency payments and cross-border transfers, the financial regulator announced. It also emphasized that the legal cryptocurrency market will continue to be supported.
The cryptocurrency market is growing, and the National Bank supports its further development. Therefore, approaches to solving the problem of fraud must be developed through joint efforts, stated the Deputy Chairman of the Board of the National Bank of the Republic of Belarus.
The decision to create the working group was made following a meeting with representatives of Belarusian banks and government-approved cryptocurrency companies. The main topic of their discussions was the prevention of unauthorized payment transactions and the transfer of illicit funds abroad through crypto platforms licensed to operate in Belarus.
Belarusian bankers and financial technology experts have identified ways to combat the illegal circulation of cryptocurrencies. One of the agreed-upon measures was the creation of a special working group, according to a statement from the central bank.
Belarus introduced regulations on cryptocurrency transactions back in 2017. In September of this year, President Lukashenko stated that cross-border Belarusian cryptocurrency payments reached a record $1,7 billion in the first seven months of 2025, and could reach $3 billion by the end of the year.