Belarus clears path for its first crypto banks

On 28 September the supervisory board of Belarus High Technology Park approved two firms to register as crypto banks. Prime Minister Alexander Turchin led the meeting.

The move follows the presidential decree signed by Alexander Lukashenko in January. Since then the park and the National Bank have been building the necessary rules and oversight framework.

The applicants have already assembled teams, set up their tech infrastructure and completed technical and legal audits. Next they need to enter the official register before starting operations.

First Deputy Head Dmitry Kalechits called the step a useful bridge between traditional finance and the crypto sector.

Based on information from cryptonews.net