Belarus Registers First Crypto Banks Under New Government Decree

Belarus has taken a significant step towards becoming a hub for cryptocurrency banking. At a recent meeting of the High-Tech Park, chaired by Prime Minister Aleksandr Turchin, two companies were registered as residents, paving the way for them to become the country's first crypto banks.

The registration process has been six months in the making, with the government, National Bank, and High-Tech Park working together to create the necessary laws and rules. The two companies have already gained practical experience in the sector and have built professional teams, set up their IT systems, and completed technical and legal audits.

However, registration at the park is not the final step. The companies must still receive accreditation from the National Bank and be added to its official crypto bank register before they can begin operating. Once operational, they will be supervised by both the High-Tech Park and the National Bank.