Belarus Registers First Two Crypto Banks Under Lukashenko Decree

Belarus has registered two companies as residents of its High-Tech Park, clearing the way for them to become the country’s first crypto banks.

Six months of groundwork

The announcement came on September 28 at a High-Tech Park meeting chaired by Prime Minister Aleksandr Turchin.

Turchin said the government, the National Bank and the High-Tech Park had spent more than six months preparing the laws and rules needed to get the system running, and that the process had finally reached the point where the first two crypto banks could be registered inside the park.

The companies have not been named, but Dmitry Kalechits, first deputy head of the park’s Supervisory Board Secretariat, said both are already known in the crypto market and have practical experience in the sector.

He added that they have built professional teams, set up their IT systems and completed technical and legal audits ahead of the launch.

National Bank approval still needed

Registration at the park is an important step, but it is not the last one.

Anna Ryabova, head of the Supervisory Board Secretariat, said the companies must still receive accreditation from the National Bank and be added to its official crypto bank register before they can begin operating.