Belarus Signs Decree Establishing Legal Framework for Crypto-Banks
Dual oversight anchors token services within Belarus’s regulated finance to bolster the country’s fintech profile.
Overview
- President Alexander Lukashenko signed Decree No. 19 creating conditions for crypto-banks to operate in the country.
- A crypto-bank is defined as a joint-stock company permitted to combine token-based activity with banking, payment, and related financial operations.
- Market entry requires residency in the High-Tech Park and inclusion in the National Bank’s dedicated register.
- Operators must follow rules for non-bank credit-financial organizations and comply with decisions of the High-Tech Park Supervisory Council.
- Officials present the move as enabling innovative products that blend traditional banking with the speed and convenience of token transactions, building on the 2017 decree that legalized various crypto activities.