Belarus Establishes Regulatory Framework for Cryptobanks Through Presidential Decree

Belarus has positioned itself as a pioneer in crypto banking integration with President Aleksandr Lukashenko's signing of Decree No. 19. The legislation creates a formal structure for 'cryptobanks'—joint-stock companies authorized to combine traditional banking services with digital asset operations. These hybrid institutions must operate within the Belarus High-Tech Park (HTP), a designated tech zone that will maintain a specialized registry of approved entities.

The National Bank of Belarus will share oversight responsibilities with HTP regulators, implementing dual-layer supervision modeled after existing financial institution frameworks. Compliance requirements mirror those for conventional credit organizations, emphasizing capital adequacy, risk management protocols, and AML safeguards. This regulatory approach suggests cautious optimism—encouraging innovation while maintaining traditional financial guardrails.

Market observers note the MOVE could attract crypto-native financial service providers seeking operational clarity. The decree's timing coincides with growing institutional interest in digital asset banking solutions across Eastern Europe. 'When regulation meets innovation, infrastructure follows,' remarked a Minsk-based fintech analyst, speaking on condition of anonymity.