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Crypto bank operations become legal in Belarus
July 18, Pozirk. Belarus has officially authorized crypto bank operations by establishing a legal framework that includes regulations on remote customer identification adopted today, the National Bank of Belarus reported.
Crypto banks can use an interbank identification system, the Common System for Identifying Individuals and Legal Entities, biometric document and online biometric identification tools.
The regulations also impose restrictions on token transactions and establish daily liquidity control requirements.
Starting July 18, companies in Belarus and abroad can use digital tokens for mutual settlements under contracts.
Alaksandar Łukašenka issued an edict governing crypto banks on January 16, with most of its provisions taking effect on July 18.
Belarus has 26 crypto operators registered with its High-Tech Park (HTP), including 10 exchanges, 13 brokers, two ICO operators and one crypto exchange office, Dźmitryj Kalečyc, a member of the HTP supervisory board, told Pervyi Informatsionnyi on July 6.
On May 24, the European Union banned its members from participating in or facilitating any transactions involving Belarusian crypto assets and digital currencies.
EU’s latest sanctions on Belarus include digital rubel, crypto ban, target new companies
April 24, Pozirk. The European Union in its latest package prohibited any transaction involving the Belarusian central bank’s future digital currency, banned “transactions with any crypto-asset service providers” and services of travel agents and tour operators in Belarus and restricted …
