The Supervisory Board of the High-Tech Park of the Republic of Belarus has approved the registration of two entities as crypto banks.
This decision was made during a meeting on September 28, chaired by Prime Minister Alexander Turchin.
“Today marks a significant event: two crypto residents are emerging in the Park with the status of crypto banks. This is the result of efforts following the president’s decree [by Alexander Lukashenko] issued in January this year,” stated Anna Ryabova, head of the Secretariat of the Supervisory Board.
Since January, the High-Tech Park and the National Bank have been developing the regulatory framework, including requirements for crypto banks, a list of permitted operations, and guidelines for accounting and reporting.
According to a release, the organizations considered at the meeting have formed teams and IT infrastructure, and have undergone technical and legal audits.
The next step will be their inclusion in the crypto bank registry. Once registered, these entities will be able to commence full operations.
Dmitry Kalechits, the first deputy head of the Secretariat of the Supervisory Board, emphasized that the introduction of crypto banks represents a "positive evolutionary step that will bring traditional finance closer to the crypto sphere.”
It is worth noting that in February, Belarus announced plans to legalize cryptocurrency transactions for the self-employed.
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