Belarus launches cryptocurrency bank

According to a decree by President Alexander Lukashenko, the creation of a cryptocurrency bank is planned in the country. The document provides for the inclusion of the institution in the register of the National Bank and compliance with laws regulating non-banking credit and financial organizations. In addition, within the bank, self-employed citizens will have the opportunity to receive salaries in cryptocurrency.

Alexander Egorov, First Deputy Chairman of the Board of the National Bank of Belarus, noted: "Inside the institution, there will be a single balance—there will be no difference between fiat money and cryptocurrency. Crypto banks are subject to control by the national bank, which increases the reliability of the system."

Context

The initiative follows growing interest in cryptocurrencies in the country.