Belarus president urges banks to expand crypto use as sanctions bite

President Alexander Lukashenko claims crypto exchanges operating in Belarus are on track to possibly double external payments by the end of the year.

Belarusian President Alexander Lukashenko has reportedly pushed the country’s banks to expand how they use crypto, admitting that sanctions have greatly impacted the economy.

Lukashenko told the heads of Belarus’ central and commercial banks in a meeting that the use of digital tokens needs to be expanded, the state-owned Belarusian Telegraph Agency reported on Tuesday.

“Over the past five years, the national economy, and with it the Belarusian banking sector, have faced unprecedented challenges,” Lukashenko said. “The government and the National Bank have been given corresponding instructions. Now, act.”

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