Belarus Approves First Crypto Banks Amid Regulatory Framework Development
The High Technologies Park of Belarus (HTP) has approved the registration of two organizations as crypto banks. This decision was made on September 28 during a meeting chaired by Prime Minister Alexander Turchin.
According to Anna Ryabova, Head of the Supervisory Board Secretariat, this marks a significant event: 'two crypto residents are joining the Park with the status of a crypto bank.'
The regulatory framework for crypto banks has been developed since January, including requirements and permitted operations. The organizations reviewed have formed teams and IT infrastructure and undergone technical and legal audits.
The next step will be their inclusion in the crypto bank registry, after which they can commence full operations. Dmitry Kalechits, First Deputy Head of the HTP Supervisory Board Secretariat, sees this as a 'positive evolutionary step that will help bridge traditional finance and the crypto sphere.'