Belarus will create its own cryptocurrency, announced Alexander Lukashenko on January 26, 2025. The following day, Alexey Avdonin, an analyst at the Belarusian Institute of Strategic Research, declared him the world's first crypto-president during broadcasts on Alpha Radio and SB TV.
"Trump called himself the first crypto-president. But in fact, the first crypto-president was Lukashenko. Because legislative changes, the creation of infrastructure for crypto exchanges, the development of technologies – all began after the president's 2017 decree. So, the world's first true crypto-president is our president," concluded Avdonin.
Belarus was indeed among the first countries in the world to legalize cryptocurrency, beating the US to it. At the end of 2017, Alexander Lukashenko signed Decree No. 8, "On the Development of the Digital Economy", which became law in March 2018. It officially permitted the issuance of tokens, conducting crypto transactions, and using blockchain without bureaucracy.
However, the world's first crypto exchanges began appearing earlier. The WTF team found at least two. In 2015, a government fund in Chile financed the creation of the country's first cryptocurrency exchange, SurBTC. Meanwhile, one of the world's earliest Bitcoin exchanges, Bitstamp – founded in 2011 – received an operating license from the authorities in Luxembourg in 2016.
When it comes to issuing a national cryptocurrency, others have also outpaced Alexander Lukashenko. At the end of 2017, Venezuelan President Nicolás Maduro announced the creation of a national cryptocurrency. He intended the petro – as it was called – to help the country circumvent international sanctions. However, it never fully took off, and in 2024 it was officially discontinued.
Japan is considered a pioneer in government regulation of the cryptocurrency market. In 2016, Japan began legalizing cryptocurrencies by introducing new cryptocurrency market regulations into its laws. Exchanges were required to register with government authorities, Bitcoin was recognized as legal tender, and protective measures were implemented for users.
