President Lukashenko Legalizes Crypto Banks in Belarus

Belarus has taken a formal step towards integrating digital assets into its financial system and legalized crypto banks. Alexander Lukashenko, the president of the European country, has signed the decree to establish an official “crypto banking” regime. Thanks to this, the new framework allows qualified institutions to provide token-related financial services alongside traditional banking and payment operations. 

Under the newly passed Decree No. 19, “On Several Issues Concerning the Regulation of Crypto Banks and Digital Tokens,” crypto banks must be resident enterprises of the country’s High-Tech Park (HTP), Belarus’s special technology and innovation zone. The banks must also be entered into a dedicated crypto bank registry maintained by the National Bank of Belarus. The banks will be defined as joint-stock companies authorized to combine digital token business with banking, payments, and other related financial services.

Dual Oversight Model Introduced

The regulation has also introduced a dual oversight model under which crypto banks will be supervised both by national financial regulators and by the HTP administration. This structure intends to combine the financial stability requirements with technological governance. 

Authorities say this initiative aims to strengthen Belarus’s position in the digital economy while maintaining state control over emerging financial technologies.