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Belarus OKs first crypto banks under new legal framework

The banks can begin operating only after receiving accreditation from the National Bank of Belarus, according to Interfax.

Reported · Written up by our desk · Regulation

Bitcoin Magazine reports that Belarus has opened what it says are the country’s first crypto banks, following the creation of a specific legal framework for crypto banking earlier this year.

According to the outlet, Interfax reported that the banks, which were not yet named, are expected to start operations after obtaining accreditation from the National Bank of Belarus.

Bitcoin Magazine adds that in January, President Alexander Lukashenko signed Decree No. 19 titled “On Cryptobanks and Certain Issues of Control in the Field of Digital Tokens,” which formally created the framework for bitcoin and crypto banks in the country.

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