Belarus Registers First Crypto Banks Amid Regulatory Push

Belarus is taking steps to register its first two crypto banks as part of a broader effort to strengthen oversight of the country's digital asset sector. The move follows more than six months of regulatory work involving the High-Tech Park (HTP) and National Bank, which has resulted in the establishment of rules for crypto bank operations.

The HTP Supervisory Board has approved decisions supporting the registration of two crypto-focused companies that will operate as HTP residents before seeking accreditation from the National Bank. These companies have built professional teams and upgraded their technology systems, completing technical and legal reviews before starting operations.

The new framework for crypto banks covers activities, transactions, accounting, and reporting requirements, with regulators expecting clearer standards for businesses operating across traditional finance and digital assets. The dual oversight from the HTP and National Bank is expected to strengthen compliance and institutional trust, potentially attracting investment and expanding financial services.