Belarus Signs Decree for Cryptobank Framework

Belarusian President Alexander Lukashenko signed Decree No. 19 on January 16, 2026, establishing a legal framework for cryptobanks and integrating digital token operations into the country's regulated financial system. The measure limits such entities to residents of the state-backed HighTech Park and requires registration with the National Bank, aiming to position Belarus as a center for financial technology while maintaining strict state oversight.

Under the decree, cryptobanks are defined as joint-stock companies authorized to combine traditional banking and payment services with activities involving digital tokens. This hybrid model allows these institutions to offer products that blend conventional financial security with the efficiency of blockchain-based transactions. Eligible companies must first secure residency in the HighTech Park, a special economic zone that provides tax and legal incentives for technology firms. They also need to be added to a dedicated register maintained by the National Bank of the Republic of Belarus.

The framework introduces dual supervision to ensure compliance and stability. Cryptobanks must adhere to regulations governing nonbank credit and...