The National Bank of Belarus has adopted a resolution No. 163 of June 30 establishing the procedure for determining the exchange rate of digital tokens in Belarusian rubles. The document was published today on the National Legal Internet Portal and will enter into force on July 18.
Under the resolution, cryptocurrency exchange rates will be determined by the crypto bank every working day as of 5:00 p.m. Minsk time, based on data from cryptocurrency exchanges designated by the regulator. The exchange rate will be calculated as the weighted average price of one unit of a token over the previous 24 hours. If the crypto bank is unable to obtain weighted average price data, it will calculate the rate based on trading turnover and trading volume for the relevant token. The resolution sets out specific calculation methods for different scenarios.
The crypto bank will determine the token’s exchange rate in U.S. dollars as the arithmetic mean of the weighted average token prices obtained from each cryptocurrency exchange whose data have not been excluded from the calculation.
The token’s exchange rate in Belarusian rubles will be determined based on the official Belarusian ruble exchange rate against the U.S. dollar set by the National Bank for the working day following the day on which the token’s exchange rate is determined. The rate will be rounded to two decimal places.
The list of cryptocurrency exchanges whose data will be used to determine exchange rates includes:
- Binance,
- Bybit,
- OKX.
