Belarus studies the creation of Belarusbank Crypto Exchange

The main bank of the Eastern European country studies the creation of an exchange of cryptocurrencies despite the downward trend of the market worldwide

The market for cryptocurrencies expands and supports small countries such as Belarus, where authorities are currently studying the creation of their own exchange of cryptographic assets.

The digital economy demands the participation of all countries. Technology is evolving rapidly and small nations can not be left out of these advances. In this regard, the chairman of the board of the Belarusbank, Viktor Ananich, recently announced that the agency is studying the launch of a crypto exchange itself.

The initiative is part of the digitization approach that the banking entity foresees for this year. Ananich stressed that they work hard in this direction despite the control exercised by the State Property Committee (99% of the bank’s shares).

The country struggles to promote the development of its economy and the consolidation of its own cryptocurrency industry. As a precedent, it is worth mentioning that in March 2018, commercial activities related to digital assets were approved. New regulations were also implemented to create the ideal conditions for investment.

In fact, the number of companies registered in the High Technology Park of Belarus increased to 400. Another good news that was announced at the beginning of 2019 is that plans to launch a new platform for token trading. The initial emission is expected in more than 10,000 tokens.

Undoubtedly, the financial, economic and banking scenario has changed thanks to blockchain technology and the emergence of cryptocurrencies. Both advances offer new ways to Belarus, which in the short term could make new announcements about its entry into the crypto ecosystem.



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