Belarus has formally recognized crypto banks after President Aleksandr Lukashenko signed Decree No. 19 on January 16, 2026. The measure, titled “On Crypto Banks and Certain Issues of Control in the Sphere of Digital Tokens,” sets the legal basis for banks to handle cryptocurrencies and virtual tokens inside the country’s financial system.
Under the decree, a crypto bank is defined as a joint-stock company that must be registered in Belarus’s High-Tech Park (HTP) and included in a special register maintained by the National Bank of Belarus. These institutions are allowed to combine conventional banking services with digital token operations, including activities tied to cryptocurrencies such as Bitcoin.
Two-layer oversight is built into the model
The framework places crypto banks under dual supervision. Financial oversight will come from the National Bank, while technical oversight will be handled by the High-Tech Park administration. More detailed requirements covering licensing, capital thresholds, and AML compliance are still expected in follow-up rules. The legal structure is now in place; the operating details are yet to be published.
The decree also fits into a longer policy line. The report points to Belarus’s digital economy decree from 2018 and a September 2025 requirement for blockchain solutions to be used in banking. Decree No. 19 takes that earlier pro-crypto posture and turns it into a clearer legal category with a defined supervisory setup.
Belarus ties crypto finance to its state tech zone
Belarus is using the measure to strengthen its position in financial technology, draw foreign investment, and connect blockchain more closely with the national economy. Market watchers also say the move could help the country reduce reliance on Western monetary systems while sanctions and tariff pressure remain in place.
The approach has parallels with jurisdictions such as Switzerland, Liechtenstein, Singapore, and the UAE, where regulated institutions can offer both traditional financial services and digital asset operations under strict oversight. Belarus stands apart in one key area: it defines “crypto banks” as a separate legal category and links them directly to the state-backed High-Tech Park. That setup encourages crypto activity, but only inside a tightly controlled domestic structure.