Commercial and state-owned banks across Belarus have reportedly received regulatory green light to the national central bank for the issuance of digital token. 

Specifically, a pilot program will reportedly be set up, to assist with the distribution of said digital tokens. Belarus has reportedly approved Decree No. 8, “On the development of the digital economy”, putting the power in the Belarus National Bank’s hand to go through with the banks’ digital economy dynamics.

The governmental framework reportedly looks to establish the environment, legally required for initial coins offerings (ICOs) throughout Belarus. The pilot will reportedly last for 3 years (Jan 1st, 2021 to Jan 1st, 2024). 

Belarusian-Swiss Bank, BTA Bank, and Belarusian People’s Bank will reportedly be the participants of the pilot, along with Belarusbank – top 1 bank across the nation. 

Hi-Tech Park – a blockchain free trading area located in Minsk and headquarter of numerous crypto mining fams- has reportedly been selected as the venue for the pilot program. 

The National Bank has reportedly granted banks the authoritative power for ICOs-generated funds in Belarusian rubles, from people or firms inside the country.