Belarus President Aleksandr Lukashenko pressed his government to introduce tougher regulation for the crypto industry, local media reported on Sept. 5.

According to the report, Lukashenko warned that lax oversight was undermining investor security and the state’s economic interests.

The President delivered the rebuke during a high-level government conference after a state audit found that about half of all citizen investments sent to foreign crypto platforms fail to return.

The inspection, carried out by the State Control Committee, also uncovered violations in how domestic platforms register financial operations.

Push for regulatory overhaul

The President said he had ordered a comprehensive framework for digital tokens and crypto as far back as 2023, but no binding legislation has reached his desk until now. The country has also initiated plans to create a central bank digital currency tied to the Russian ruble.

He criticized the government for allowing “digital life” to outpace the law, urging officials to finalize regulations that guarantee financial stability while protecting investors.