Belarus registers its first two crypto banks offering fiat deposits, tokenized transfers, and digital asset custody under regulatory framework.
Regulation & Gov ·
Belarus has registered its first two crypto banks, which are now authorized to accept fiat deposits, facilitate tokenized transfers, and hold digital asset custody within a single regulated framework. The move marks the first time the country has formally licensed financial institutions with explicit cryptocurrency capabilities under its regulatory structure.
The banks operate under Belarus's established legal framework for digital assets and financial services. They are permitted to handle both traditional currency deposits and crypto-native transactions, consolidating functions that typically require separate licensing in other jurisdictions. This consolidated approach allows customers to manage fiat and digital holdings through one entity subject to regulatory oversight.
The specific identities of the two banks, their capitalization requirements, and the detailed scope of their custody operations remain unclear. It is also not yet known whether additional institutions plan to apply for similar licenses or how the framework will evolve as adoption increases.