Belarus has taken a significant step in the world of cryptocurrency by approving the registration of two entities as crypto banks. This decision was made during a meeting on September 28, led by Prime Minister Alexander Turchin.
Anna Ryabova, head of the Supervisory Board's Secretariat, remarked on the importance of this milestone, noting that it stems from a presidential decree issued by Alexander Lukashenko earlier this year. She highlighted that these new crypto banks are a product of ongoing regulatory development since January.
The High-Tech Park and the National Bank of Belarus have been working to establish a framework that outlines the requirements, permissible activities, and accounting guidelines for crypto banks. The entities approved have assembled teams and IT infrastructure and have completed necessary audits.
