Belarus is preparing to register its first two crypto banks as authorities 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.
Officials said the initiative could create stronger links between traditional financial services and cryptocurrency businesses. The development also follows a presidential decree that established rules for crypto bank operations in July.
New Crypto Banks Enter HTP
The HTP Supervisory Board has approved decisions supporting the registration of two crypto-focused companies. Both firms will initially operate as HTP residents before seeking accreditation from the National Bank.
Additionally, officials said the companies have built professional teams and upgraded their technology systems. They have also completed technical and legal reviews before starting operations.
Closer Link Between Finance and Crypto
The new framework covers crypto banks’ activities, transactions, accounting, and reporting requirements. Hence, regulators expect clearer standards for businesses operating across traditional finance and digital assets.
Moreover, dual oversight from the HTP and National Bank could strengthen compliance and institutional trust. Consequently, officials expect the sector to attract investment and expand financial services.
Significantly, the initiative could reduce barriers between conventional financial companies and crypto businesses. However, regulators will oversee the new institutions as they begin operations.
Related: REX, Osprey Set Oct. 23 Target for Staked SEI ETF as Filings Advance
Please note, this site provides content for entertainment purposes only and does not offer financial advice. Read more here
