Belarus has introduced a decree to integrate digital assets into its financial system, creating a framework for crypto banks. These banks can offer blockchain-based products alongside traditional financial services. Crypto banks must be located in Belarus’s High-Tech Park and comply with dual regulatory structures to ensure oversight and regulatory standards.

The decree aims to position Belarus as a leader in financial technology by allowing crypto banks to offer hybrid financial products combining traditional banking stability with token-based transaction efficiency. This move signifies a shift towards a more structured financial ecosystem that includes regulated digital tokens within banking operations.

President Lukashenko sees crypto mining as a strategic way to reduce global dollar dependency, announcing expansion plans to leverage surplus nuclear power for digital asset production. Belarus aims to establish monetary alternatives, dismissing concerns about market volatility and embracing crypto as an inevitable part of international efforts.

Read more at Yahoo Finance: Belarus Moves to Establish Legal Framework for Crypto Banks: Report