The Belarusian president has signed a decree establishing “cryptobanks,” hybrid financial institutions that combine traditional banking services with digital asset operations.
Belarusian President Alexander Lukashenko has signed Decree No. 19, introducing a regulatory framework for so-called cryptobanks in the country. The announcement was released through an official statement by the Belarusian presidential office.
According to the presidential decree, cryptobanks are joint-stock companies authorized to integrate digital asset operations alongside traditional banking services, payment systems, and other conventional financial activities.
These hybrid institutions must be located within the High-Tech Park (HTP), a special economic zone managed by the Belarusian state. Their activities will be subject to dual oversight: on one side the HTP authorities, and on the other the National Bank of the Republic of Belarus.
The stated aim of the decree is to promote “technological efficiency, speed, and convenience” in transactions involving digital assets, while creating an innovative financial ecosystem that remains strictly controlled by the state.s
Requirements and admission criteria
To be authorized to operate as a cryptobank, companies must meet two specific and binding conditions.
First, the entity must hold resident status within the High-Tech Park, the special economic zone established by the government to foster the country’s technological development.
Second, the institution must be formally registered in a dedicated cryptobank registry maintained and managed by the national central bank.
Once operational, cryptobanks are required to comply with Belarusian legislation governing credit institutions and non-bank financial organizations. In addition, they must implement all decisions issued by the HTP supervisory board.
