Belarus prepares to launch crypto bank

As the first participant in Belarus, a crypto bank, a resident of the High-Tech Park, is planned to be opened. According to project representatives, the bank will have to comply with the requirements of legislation for non-banking credit and financial organizations and carry out the decisions of the Supervisory Board of the High-Tech Park. According to sources, such dual regulation could enhance the security and transparency of operations, as well as attract the attention of the global financial system to the country's innovative sector. Expert publications indicate that the crypto bank could become a key tool in the development of financial services and the digital economy of Belarus.

Context

Cryptocurrency banks – new participants in the financial market – are designed to facilitate transactions without intermediaries.