Belarusian president signs decree to officially establish legal status of cryptocurrency banks
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Belarusian president signs decree to officially establish legal status of cryptocurrency banks
According to the Belarusian Telegraph Agency, Belarusian President Alexander Lukashenko signed Decree No. 19 "On Certain Issues of Regulation in the Field of Crypto-Banking and Digital Tokens," officially establishing the legal status of crypto-banks in the country. Under the decree, a crypto-bank is defined as a joint-stock company authorized to combine digital token operations with banking, payment, and other related financial activities. To enter the market, a crypto-bank must be an enterprise of the High-Tech Park and included in the register of crypto-banks maintained by the National Bank. Crypto-banks must comply with legal requirements applicable to non-bank credit institutions and implement decisions issued by the Supervisory Board of the High-Tech Park.
Navigating Web3 tides with focused insightsTechFlow reported on January 16 that, according to the Belarusian Telegraph Agency, Belarusian President Alexander Lukashenko signed Decree No. 19 "On Certain Issues of Regulation in the Field of Crypto-Banking and Digital Tokens," officially establishing the legal status of crypto-banks in the country.
Under the decree, a crypto-bank is defined as a joint-stock company authorized to combine digital token operations with banking, payment, and other related financial activities. To enter the market, a crypto-bank must be an enterprise within the High-Tech Park and included in the National Bank's register of crypto-banks. Crypto-banks must comply with legal requirements applicable to non-bank credit institutions and implement decisions made by the High-Tech Park Supervisory Board.
