Belarus Establishes Legal Framework for Cryptobanks Under State Supervision

Belarus Embraces Cryptobanks

Belarus has unveiled a regulatory framework for 'cryptobanks,' formally incorporating digital asset activities into the nation's banking system under state supervision. President Alexander Lukashenko signed Decree No. 19, outlining operational guidelines and market entry conditions for these entities.

The decree mandates that cryptobanks operate as joint-stock companies, merging token-based operations with conventional banking and financial services. This integration ties digital asset activities to the country's existing financial oversight mechanisms.

To operate, cryptobanks must secure residency in Belarus's Hi-Tech Park, a state-supported tech zone, and be listed in a central bank-maintained register.

Dual Oversight for Cryptobanks

The decree requires cryptobanks to adhere to regulations for non-bank credit and financial institutions and to comply with decisions from the Hi-Tech Park's supervisory board. This dual regulatory approach ensures cryptobanks can offer innovative products that blend traditional banking with token-based efficiencies, while operating within the financial system's parameters.

The framework aims to position Belarus as a financial IT hub, reinforcing policies that permit crypto activities only through state-sanctioned channels.

Controlled Crypto Strategy

This move builds on Belarus's ongoing efforts to regulate the crypto market. In 2025, Lukashenko urged lawmakers to establish clear rules for crypto and encouraged local banks to adopt crypto payments amid international sanctions. Belarus has also cracked down on unregulated crypto activity, blocking access to several offshore exchanges.

For more insights into regulatory changes, explore how crypto laws evolved in 2025 and their trajectory for 2026.