Belarus Enacts Decree to Regulate Cryptocurrency Banks

According to PANews, Belarusian President Alexander Lukashenko signed Decree No. 19 on January 16, addressing the regulation of cryptocurrency banks and digital tokens. The decree aims to strengthen Belarus's image as a leader in financial information technology and facilitate the operation of 'cryptocurrency banks' within the country. The decree defines 'cryptocurrency banks' as joint-stock companies authorized to use digital tokens in their operations, while also engaging in banking, payment, and other related financial activities. To enter the market, these banks must hold the status of resident enterprises in the High-Tech Park and be listed in the National Bank's registry of cryptocurrency banks. They are required to comply with regulations applicable to non-bank credit financial institutions and adhere to the resolutions of the High-Tech Park Supervisory Board.