Key Takeaways
- •Lukashenko signed decree for crypto banks in Belarus.
- •Integration of crypto and traditional banking approved.
- •New framework positions Belarus as a tech hub.
Introduction to Crypto Banks in Belarus
Belarusian President Alexander Lukashenko signed Decree No. 19 on January 16, 2026, establishing a framework for 'crypto banks' within the High-Tech Park, requiring registration with the National Bank.
The decree empowers crypto banks to integrate traditional banking with digital token operations, positioning Belarus as a crypto-friendly jurisdiction amid growing interest in regulated virtual financial services.
Belarus Legalizes Crypto Banks
Belarus has established a legal framework for future "crypto banks" within the country. President Alexander Lukashenko's decree sets guidelines for these financial entities to operate both in traditional banking and digital tokens. Dual regulation will be key for implementation.
President Lukashenko signed Decree No. 19 on January 16, 2026. This decree mandates that crypto banks operate as joint-stock companies. The National Bank of Belarus and the High-Tech Park Supervisory Board are the main regulatory bodies involved.
The decree could transform the financial landscape in Belarus, blending digital tokens with conventional banking services. Such integration aims to attract technological investments, aligning with the government's broader tech ambitions.
While the decree targets local dual regulation, it also brings financial, political, and social implications. The strategic move could alleviate economic pressures and squarely positions Belarus in the global crypto space amid current sanctions. "Dual regulation will allow a crypto bank to offer clients innovative financial products that combine the advantages of traditional banking operations with the technological efficiency, speed, and convenience of digital token transactions." - Alexander Lukashenko, President of Belarus
The decree offers tax advantages to High-Tech Park residents. This creates incentives for crypto firms to establish operations in Belarus. However, the long-term effects on market stability remain to be seen as implementation progresses.
Insights into potential outcomes point towards increased efficiency and innovation in financial products. Analysts suggest this move could establish Belarus as a prominent financial IT hub in the region, benefiting from regulated crypto integration.