Belarus has officially entered the digital asset era by establishing a legal framework for "cryptobanks" through a new presidential decree. This move integrates cryptocurrency operations into the regulated banking system under state oversight, aiming to foster innovation while maintaining control.
Key Takeaways
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Belarusian President Alexander Lukashenko signed Decree No. 19, creating a legal pathway for crypto banks.
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Cryptobanks must be joint-stock companies and residents of the Hi-Tech Park.
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These institutions will operate under dual oversight from the National Bank and the Hi-Tech Park Supervisory Board.
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The framework allows for hybrid financial products combining traditional banking with digital token services.
Establishing the Regulatory Framework
President Alexander Lukashenko's signing of Decree No. 19 on January 16, 2026, marks a significant step in Belarus's approach to digital assets. The decree defines "cryptobanks" as joint-stock companies authorized to merge token-based operations with traditional banking, payment, and related financial services. This initiative aims to integrate digital asset activity into the existing financial infrastructure rather than creating a separate sector.
Market Entry and Oversight Requirements
To operate as a cryptobank, companies must meet specific criteria. Firstly, they need to obtain resident status within Belarus's Hi-Tech Park, a state-backed technology zone. Secondly, they must be registered in a dedicated registry maintained by the country's central bank. This dual approval process ensures that entities are vetted by both technology sector authorities and traditional financial regulators. Cryptobanks will be subject to regulations governing non-bank credit and financial institutions, alongside decisions from the Hi-Tech Park's Supervisory Board, creating a layered oversight model.
Dual Regulation for Innovation and Stability
The dual oversight mechanism is designed to balance innovation with financial stability. By combining financial regulation with technological supervision, Belarus aims to enable cryptobanks to offer innovative products that leverage the efficiencies of token-based transactions while maintaining the security and compliance standards of traditional banking. This approach allows for the delivery of crypto services through licensed entities already embedded within the financial system, ensuring that digital asset activity operates within clearly defined, state-approved channels.
A Controlled Approach to Digital Assets
This decree builds upon Belarus's consistent policy of controlled engagement with the cryptocurrency market. Previous directives from President Lukashenko have called for clear rules and state control mechanisms for the digital asset market. The country has also taken steps to curb unregulated crypto activity, including blocking access to offshore exchanges. The introduction of cryptobanks signifies a move towards formalizing and regulating crypto services within the established financial system, reinforcing Belarus's image as a financial IT hub while maintaining strict state supervision.
Sources
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Belarus creates legal framework for ‘cryptobanks’ in new presidential decree — TradingView News, TradingView — Track All Markets.
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Belarus Launches Crypto Bank Framework Through New Presidential Decree, Blockonomi.
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Belarus Creates Framework for Bitcoin-Handling Banks, Bitbo.
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Belarus establishes rules for ‘crypto banks’: check out the details, Bitget.
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