#crypto

Belarus pays Belarus banks to use encryption

Belarusian President Alexander Lukashenko encourages banks to use encryption more as the economy is heavily affected by sanctions from the United States and the European Union due to Belarus's support for Russia in the Ukraine war.

He urges the central bank and commercial banks that they need to expand the use of digital assets. If this happens, cryptocurrency exchange in Belarus could double the volume of foreign payments by the end of this year.

At the same time, he is working with parliament to create clear regulations for the Belarusian cryptocurrency market.