Belarusian President Alexander Lukashenko has signed Decree No. 19 “On Cryptobanks and Sure Problems with Management within the Discipline of Digital Tokens,” formally making a authorized framework for bitcoin and crypto banks within the nation.
The decree makes Belarus a hub for monetary know-how innovation whereas offering a regulated path for cryptocurrency companies.
Below the brand new regulation, a crypto financial institution is outlined as a joint-stock firm that could be a resident of Belarus’ Excessive-Tech Park (HTP) and included in a registry maintained by the Nationwide Financial institution of Belarus.
These establishments can supply each conventional banking companies — akin to deposits, loans, and transfers — and actions involving digital tokens, making a hybrid monetary mannequin that blends fiat and crypto operations.
Solely corporations registered with the HTP and listed within the Nationwide Financial institution’s crypto financial institution registry can be eligible to function. Crypto banks won’t be full industrial banks however will operate as non-bank monetary establishments, topic to twin regulation.
This implies they have to adjust to guidelines for non-bank credit score and monetary establishments, together with capital adequacy, threat administration, anti-money laundering (AML) and counter-financing of terrorism (CFT) obligations, in addition to shopper safety requirements.
They’re additionally required to observe selections made by the HTP Supervisory Board.
Belarus’ pro-bitcoin push
The decree is part of Belarus’ broader push to combine digital finance with conventional banking infrastructure. “Twin regulation will enable a crypto financial institution to supply purchasers modern monetary merchandise that mix some great benefits of conventional banking operations with the technological effectivity, pace, and comfort of digital token transactions,” the presidential web site famous.
Belarus has a historical past of early adoption of crypto rules. A 2017 decree established tax-free situations for cryptocurrency mining and buying and selling, eliminating the necessity for people to declare crypto revenue.
In recent times, Lukashenko has additionally promoted digital cost techniques and bitcoin mining tasks, together with utilizing surplus electrical energy to energy mining farms within the Mogilev area.
The nation is anticipated to launch its digital ruble in full-scale operation within the second half of 2026.
For native customers and companies, the brand new framework may ease entry to hybrid monetary merchandise that hyperlink fiat and digital currencies. By enabling smoother and quicker settlement, crypto banks might cut back friction when transferring between conventional and crypto-based transactions. The decree additionally gives clear regulatory boundaries, making certain that crypto operations stay absolutely backed by fiat and topic to oversight.
Globally, Belarus’ transfer aligns with tendencies towards on-chain finance and tokenized property, as banks and monetary establishments discover blockchain know-how for funds, buying and selling, and asset administration.
Simply yesterday, Belgium’s KBC Group said they will become the primary native financial institution to let retail purchasers commerce crypto, beginning February 16 by way of its Bolero platform underneath EU’s MiCAR guidelines.
Initially providing Bitcoin and Ether on an execution-only foundation, purchasers should move a risk-awareness take a look at earlier than buying and selling.
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