Belarus Enacts ‘Crypto Banks’ Laws: See Details

President Alexander Lukashenko signed Decree No. 19 to prepare operating rules and market entry conditions. Cryptobanks must be residents of the Hi-Tech Park and be registered with the Cryptobank Registry managed by the Central Bank. The model introduces dual control through financial laws and decisions of the Hi-Tech Park Supervisory Board.

Belarus is moving digital assets to the core of its financial system after introducing a legal framework for cryptobanks.

Instead of seeing crypto as a separate industry, it is building a model where token-related services sit within existing banking structures and are regulated by the government.

On Friday, the President of Belarus, Alexander Lukashenko, signed Decree No. 19, which defines how cryptobanks work and what conditions they must meet to enter the market.

The move gives Belarus a streamlined path to crypto-related banking, while narrowing the boundaries of who is allowed to provide these services.

What kind of provision No. 19 allows cryptobanks

According to the decree, cryptobanks are defined as joint-stock companies that can combine token-based activity with traditional banking activities.

This includes banking, payments and related financial services, but now within a formal legal framework.

Instead of creating a parallel “crypto sector”, Belarus is connecting digital asset operations with the same financial regulatory mechanisms and infrastructure that govern major institutions.

This approach represents an effort to keep crypto activity under control and within an accessible system.

Cryptobanks are not open to every player. The framework limits participation to companies that agree to operate strictly within the country's regulatory requirements.

The hi-tech park rules are now tied to crypto banking.

A key component of the new framework is the Hi-Tech Park, a state-backed technology zone that already plays an important role in Belarus' digital economy strategy.

According to the decree, before entering the market, the cryptobank must obtain residency status in the Hi-Tech Park.

In addition, cryptobanks must be added to a special register maintained by the country's central bank.

This structure effectively puts market access behind formal approvals.

Cryptobanks face dual regulatory and compliance obligations.

Belarus is implementing a layered regulatory model on cryptobanks with standardized financial compliance requirements.

According to the decree, cryptobanks must follow the rules that apply to non-bank credit and financial institutions.

They have to implement the decisions made by Hi-Tech Park Control Board.

This creates a dual control that combines financial control with technology control.

Officials say this approach is designed to support new products that combine traditional banking services with token-based transaction efficiency.

In practical terms, it allows crypto-related services to be provided through licensed entities embedded in a regular banking environment.

The new cryptobanking rules are in line with a long policy direction in which crypto is allowed only within clearly defined and government-approved boundaries.