In Belarus, transaction permission has been officially granted for 26 cryptocurrencies that have been pre-approved by financial authorities. The list, published in the country’s capital Minsk, includes cryptocurrencies with the highest market value, as well as important stablecoins and popular altcoins.
New digital asset regulation and scope
“Cryptobanks” in Belarus, which combine traditional banking and cryptocurrency exchange functions, will now be able to officially transact with 26 digital tokens. This permit was announced by the Belarusian High-Tech Park, which provides special advantages to high-tech companies in the country. The list in question was approved by the Supervisory Board of this institution, one of the leading IT clusters in Central and Eastern Europe.
The list includes currencies with high market value such as Bitcoin (BTC), Ethereum (ETH), XRP and Binance’s own cryptocurrency BNB. In addition, globally widely used stablecoins such as Tether (USDT) and Circle (USDC) were also included. Additionally, popular meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) were among the assets chosen by financial officials.
Deputy Governor of the Central Bank of Belarus, Alexander Egorov, emphasized that the list is not final and that the regulatory body plans to update this list over time according to the volatility of assets and market volume.
Coins that have recently recorded significant price increases and attracted investor interest, such as Toncoin (TON), supported by Telegram, are also among the approved assets. However, some of the 20 cryptocurrencies with the highest market value, such as Zcash (ZEC), Monero (XMR), Canton (CC) and Stellar (XLM), were not included in this list.
The impact of crypto banks on the industry and new platforms
It should be noted that the publication of the approved cryptocurrency list is due to the decree titled “On Certain Issues in the Field of Crypto Banks and Digital Tokens” signed by Belarusian President Alexander Lukashenko in January. This regulation aims to strengthen the country’s leadership in the field of information and financial technologies.
Under the new regulation, both the central bank and the Supervisory Board of the High Technology Park will undertake the supervision of this new financial sector. Institutions that will receive a crypto bank license must be registered with the Park and added to the central bank’s special registry.
Belarus High Technology Park is known as the “Silicon Valley” of the country and attracts attention with the special tax and legal advantages it provides to technology companies. With another presidential decree issued in 2017 and entered into force in 2018, cryptocurrencies were officially accepted as legal in the country and many activities from mining to buying and selling were regulated in the sector.
New possibilities in crypto transactions
With the latest regulations, crypto banks will be able to transact not only with international cryptocurrencies but also with digital tokens produced as ICOs within the Park. These new generation tokens belonging to institutions; It can be used in functional banking services such as deposit opening, transfer, lending, staking and custody.
In addition, it becomes legal for these organizations to support their customers to issue their own tokens under the new regulation. Thus, Belarus allows crypto assets to spread in the country on a legal, transparent and regulated basis.
