Belarus Approves the Country’s First Crypto Banks: Report
Belarus registered two crypto banks after creating a legal framework for Bitcoin banks earlier this year. The institutions are set up to combine fiat deposits, tokenized transfers, and digital-asset custody under regulated entities, and they are described as the first such banks in the country.
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Residents and businesses in Minsk now have two registered crypto banks available in the country’s fintech hub, and that changes which regulated institutions can handle coin-related services there today. The development also matters to the broader sector in Belarus because the first such banks have been approved after the legal framework was introduced earlier this year.
In practice, the available service set is described as fiat deposits, tokenized transfers, and digital-asset custody under regulated entities. What stays the same is that the institutions are still banks operating within regulation, even though they add crypto-related functions to traditional banking activity. (per tokenpost.com)
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