Key facts
- Belarus has registered its first two crypto banks.
- The crypto banks must obtain accreditation from the National Bank before operating.
- The new digital asset framework went into effect in July.
- Crypto banks in Belarus must be joint-stock companies.
- Belarus uses a dual regulatory model involving the High-Tech Park and the National Bank.
Belarus has registered its first two crypto banks under a new digital asset framework that took effect in July. The institutions were added as residents to the High-Tech Park, a designated legal area for digital asset activity. However, both entities must still secure accreditation from the National Bank of Belarus before they can begin operations.
The registrations were announced at a meeting chaired by Prime Minister Alexander Turchin. Dmitry Kalechits, a senior official at the High-Tech Park, confirmed that the two unidentified institutions already operate within the crypto market and have met expert team and technological system readiness requirements, as well as undergoing technical and legal checks.