In a bid to regulate its thriving cryptocurrency market, Belarus has directed lawmakers to implement clear and transparent rules. President Aleksandr Lukashenko emphasized the need for Belarus to stay ahead of global developments in digital finance at a recent government conference. He stated that the country’s role is to define understandable regulations and control mechanisms for this emerging sector, recognizing its novelty within the nation. 2023 directives focusing on comprehensive regulation of digital tokens and cryptocurrencies are being enforced through Belarusian Presidential Decree No. 80, which seeks to establish a national framework for cryptocurrency. The president underscored the need to delineate responsibilities between government agencies and Hi-Tech Park, a government-supported IT special economic zone, within the cryptocurrency industry. This initiative follows his earlier instructions to explore the potential of cryptocurrency mining, capitalizing on Belarus’s surplus electricity supply. Despite its interest in cryptocurrencies, Belarus has exhibited resistance towards the decentralized nature of these digital assets. In mid-2023, the Belarusian Ministry proposed legal amendments to restrict peer-to-peer cryptocurrency transactions, such as those involving Bitcoin. This intention was formalized last year when Lukashenko signed Decree No. 367, prohibiting individuals, including those within Hi-Tech Park, from engaging in cryptocurrency transactions outside of licensed Belarusian exchanges. This decree aims to maintain state oversight over digital assets and promote a controlled circulation of digital tokens, primarily cryptocurrencies.