The President of Belarus signs a decree allowing the establishment of a cryptocurrency bank

PANews January 16 News, according to the Belarusian National News Agency, Belarusian President Alexander Lukashenko signed Decree No. 19 on January 16 regarding “Issues of Regulation in the Cryptocurrency Banking and Digital Token Sector.” The decree aims to strengthen the country's image as a leading nation in financial information technology and to create conditions for “cryptocurrency banks” to operate within the country. According to the decree, a “cryptocurrency bank” is defined as a joint-stock company authorized to conduct business using digital tokens, while also engaging in banking, payment, and other related financial operations. To enter the market, crypto banks must have the status of a resident enterprise in a high-tech park and be listed on the national bank's register of crypto banks. When conducting business, they must comply with regulations applicable to non-bank credit financial institutions and implement resolutions from the high-tech park supervisory board.