Belarusian President Alexander Lukashenko would have prompted the country’s banks to expand the way they use the crypto, admitting that the sanctions have considerably had an impact on the economy.
Lukashenko told the heads of the central and commercial banks of the Bélarus at a meeting that the use of digital tokens must be extended, the Belarusian telegraph agency belonging to the State reported Tuesday.
“Over the past five years, the national economy, and with it the Belarusian banking sector, have faced unprecedented challenges,” said Lukashenko. “The government and the National Bank have received corresponding instructions. Now acts. ”
Lukashenko’s last pressure occurs days after telling legislators to create transparent rules for the country’s cryptocurrency market on Friday, such as the country’s economy denied Due to the reduction of exports under the great sanctions of the EU and the United States to support the invasion of Ukraine by Russia.
Due to their anonymous and decentralized nature, cryptocurrencies have been used among other methods to help countries, including Russia and North Korea, elude sanctions and trade.
Payments via exchanges of crypto-biélorusian could exceed $ 3 billion
The total number of crypto users in Belarus should exceed more than 855,000 people by 2026, out of a population of 9.1 million, while user penetration should increase to 9.57% according to to the online data platform Statita.
Lukashenko says that all the exchanges operating in the country, such as Binance, Okx and Kucoin, are on the right track to possibly double in external payments by the end of the year.
“Today, cryptocurrency-based transactions are more active than ever, and their role in paying payments increases,” he said.
“During the seven months of this year, the volume of external payments through cryptocurrency grants amounted to $ 1.7 billion. According to expert estimates, it could reach $ 3 billion by the end of the year. ”
In September of last year, Lukashenko sign A law prohibiting people from buying and selling crypto outside Belarusian exchanges.
Another push for digital payment systems
Lukashenko has also told bank chiefs to increase the adoption of digital payment systems, after having made a “start -up by QR codes” and launching an instant payment system by the end of the year.
VTB Bank Bidarus, a Russian middle state bank, began to offer its customers payment options using QR codes connected directly to the ERIP online payment system.
Lukashenko said that the country’s digital strategy must prioritize the adoption of biometric technologies, establish a dedicated IT company to reduce dependence on external service providers and integrate solutions based on artificial intelligence.
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“Banks must try to get the most out of modern technology. Digitization is not an end in itself; It must provide tangible economic results, “he added.
Bilarus Cryrente Air
The attitude of the Bélarus towards the crypto has been somewhat mixed in the past. In March, Lukashenko asked his Minister of Energy to start developing the country’s cryptocurrency mining industry because the country had an excess of electricity.
In the summer of 2023, the Belarusian ministry worked on the prohibition of transactions between peers in crypto, such as Bitcoin (BTC).
However, the country also legalized cryptographic transactions in 2018 and allowed the sale, exchange and mining.
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