Belarusian President Signs New Decree Allowing the Establishment of 'Crypto Banks' and Integration of Traditional Financial Services

BlockBeats News, January 16: According to the Belarusian state news agency, Belarusian President Lukashenko signed Decree No. 19 on January 16, titled 'On Certain Issues of Regulation in the Field of Crypto Banks and Digital Tokens.' The decree aims to strengthen Belarus's position as a leader in financial IT technology and create conditions for the operation of 'crypto banks' within the country. Under the decree, crypto banks are defined as joint-stock companies authorized to combine digital currency operations with banking, payment, and other related financial services. To enter this market, crypto banks must hold resident status in the High-Tech Park (HTP) and be listed in the National Bank's registry of crypto banks. Such institutions are required to comply with the legal requirements for non-bank credit financial institutions as well as the decisions of the High-Tech Park Supervisory Board.