Belarus Registers First Crypto Banks Under New Regulatory Framework

This milestone is a direct consequence of Presidential Decree No. 19, signed by President Alexander Lukashenko on January 16, 2026. Following a six-month period dedicated to drafting complementary regulations, the decree’s core provisions entered into force around July.

Why Belarus Chose Merger, Not Coexistence

Under Decree No. 19, crypto banks must be incorporated as joint-stock companies, the same corporate structure required of traditional banks, and must maintain formal residency within the HTP. These institutions answer simultaneously to the HTP administration and to the National Bank of the Republic of Belarus, a dual oversight scheme that combines the tax incentives of the technology park with the anti-money laundering compliance controls typical of the conventional financial system.

Permitted activities include the integration of token-based transactions into standard banking services. In practical terms, a single entity could manage everything from fiat currency deposits and credit operations to digital asset custody and token-based transfers. This approach sets the Belarusian model apart from other jurisdictions that treat crypto and banking licenses as separate regulatory domains.