The President of Belarus signed a decree allowing the establishment of cryptocurrency banks.

PANews reported on January 16 that, according to the Belarusian state news agency, Belarusian President Alexander Lukashenko signed Decree No. 19 on January 16, entitled "Several Issues Concerning the Regulation of Cryptocurrency Banks and Digital Tokens." This decree aims to solidify the country's image as a leading nation in financial information technology and create conditions for the operation of "cryptocurrency banks" in the country.

According to the law, a "crypto bank" is defined as a joint-stock company authorized to conduct business using digital tokens, while simultaneously engaging in banking, payments, and other related financial operations. To enter the market, a crypto bank must be a resident enterprise of a high-tech industrial park and be listed on the National Bank's crypto bank registration list. In conducting business, it must comply with the regulatory requirements applicable to non-bank credit financial institutions and implement the resolutions of the high-tech industrial park's supervisory board.