Belarus has legalized cryptocurrency payments for self-employed individuals, streamlining transactions and regulatory oversight.
Freelancers in Belarus can now legally accept cryptocurrency payments for their services, as confirmed by Alexander Egorov, chairman of the National Bank.
“Before, if a designer or programmer completed a job for a foreign client willing to pay in crypto, they faced legal hurdles that prevented them from depositing that money or paying taxes on it. Now, that obstacle has been eliminated,” Egorov stated.
These cryptocurrency transactions will be facilitated through banks that specialize in digital assets, a sector that received legal recognition earlier this year.
According to Decree No. 19, these banks will be joint-stock companies registered within the High-Tech Park (HTP) and will be authorized to handle token transactions alongside conventional banking services. Their operations will be overseen by the Central Bank of Belarus and the HTP.
To ensure security and reliability, the HTP will also be in charge of assessing software integrity and encryption standards.
“The integration of blockchain technology with government oversight offers a transparency level that traditional banks can only aspire to,” Egorov remarked.
Furthermore, these cryptocurrency banks will provide clients with cards to facilitate transactions in physical stores, automatically converting digital currencies to Belarusian rubles at the current rate during purchases.
Egorov characterized the establishment of these financial entities as a significant transformation in capital circulation, emphasizing Belarus's commitment to innovation rather than apprehension.
President Alexander Lukashenko has consistently advocated for clear regulations in the cryptocurrency sector and effective monitoring systems. He has also urged the banking industry to expedite the rollout of digital payment solutions, leveraging QR code technology.
Looking ahead, Belarus is set to launch its digital ruble in full by the second half of 2026.
