Belarus Demands Stricter Crypto Regulations as Capital Flight Concerns Mount

President Aleksandr Lukashenko has issued a sharp rebuke to Belarusian authorities over delayed cryptocurrency regulations, following revelations that half of citizen investments sent abroad never return. The ultimatum comes after a State Control Committee audit exposed systemic failures in tracking cross-border crypto flows.

Current oversight mechanisms under Hi-Tech Park Ordinance No. 8 were deemed insufficient during a September 5 government conference. Lukashenko emphasized the need for transparent rules and greater state involvement, reiterating his original 2023 directives for comprehensive digital asset governance.

The audit uncovered widespread noncompliance among crypto platform operators, particularly regarding financial operation registrations. "This won't do," Lukashenko declared, signaling imminent regulatory reforms to stem capital outflows through digital channels.