Belarus Establishes Legal Framework for Cryptobanks
- Belarusian President Alexander Lukashenko signed a decree to formalize rules for cryptobanks.
- The decree permits only companies in the High-Tech Park (HTP) and registered with the National Bank to operate as cryptobanks.
- Cryptobanks are defined as joint-stock companies integrating traditional banking with digital token activities.
- HTP offers a special economic zone with distinct tax and legal benefits for these institutions.
- Belarus was an early adopter of crypto regulations, declaring mining and trading tax-free under a 2017 decree.
The new decree by Belarus aims to position the country as a financial technology hub by establishing a framework for cryptobanks, allowing only firms within its High-Tech Park to operate under specific regulations.
Source (3.2)https://cryptobriefing.com/belarus-introduces-decree-regulate-cryptobanks/?rand=59535
