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Belarusian President Alexander Lukashenko is pushing banks to expand digital asset usage to counter Western sanctions. The country has processed $1.7 billion in crypto payments this year, with projections reaching $3 billion by December. This move mirrors similar patterns in other Russia-aligned states seeking sanctions evasion.
- Belarus recorded $1.7B in crypto payments Jan-July 2024, projected to hit $3B by year-end
- Lukashenko promotes tokenization to cut intermediaries and automate deals via smart contracts
- Kyrgyzstan's crypto industry grew from near-zero to $4.2B volume, driven by Russian sanctions evasion
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