Belarus Launches Cryptobanks, Pioneering a New Era in Digital Currency Regulation
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1d ago- Launch of Cryptobanks: President Alexander Lukashenko signed Decree No. 19, officially integrating cryptocurrency into the national banking system, marking the establishment of cryptobanks that are expected to drive innovation and development in financial services.
- Dual Regulation System: The new decree mandates that cryptobanks gain resident status within the Hi-Tech Park and be listed in a dedicated register maintained by the Belarusian central bank, ensuring both financial compliance and technological oversight.
- Attracting International Investment: By integrating cryptocurrency with traditional finance, Belarus aims to attract international crypto companies and investors, enhancing its status as a global fintech hub and promoting economic growth.
- Balancing Innovation and Security: Cryptobanks will operate under existing financial standards, enhancing market trust while providing seamless access to both traditional and cutting-edge financial services, fostering a dynamic financial ecosystem.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
