Belarus Legalizes Crypto Banks: Decree No. 19 Establishes Regulated Framework for Digital Asset Integration in 2026

Major Regulatory Leap for Crypto Integration

President Alexander Lukashenko signed Decree No. 19, titled

on January 16, 2026. This presidential order introduces a structured legal pathway for institutions to merge cryptocurrency operations with conventional banking services.

The policy designates crypto banks as joint-stock companies empowered to handle digital token activities alongside standard banking, payments, lending, custody, and related financial offerings. These entities gain the ability to facilitate seamless transitions between fiat currencies (including the Belarusian ruble) and cryptocurrencies like Bitcoin.

This development builds on Belarus’s pioneering stance in digital finance, reinforcing its reputation as an Eastern European leader in blockchain-friendly policies.

Core Requirements and Oversight Structure

To qualify as a crypto bank, organizations must satisfy stringent criteria:

• Obtain resident status in the High-Tech Park (HTP), Belarus’s flagship special economic zone known for tax advantages and innovation incentives.
• Secure inclusion in a dedicated registry overseen by the National Bank of Belarus.

Operations fall under dual supervision:

• The National Bank enforces rules on capital adequacy, liquidity, anti-money laundering compliance, and overall financial stability.
• The HTP Supervisory Board governs technological aspects, cybersecurity, blockchain infrastructure, and innovation standards.

This layered approach ensures controlled growth while preventing unregulated risks, allowing crypto banks to deliver hybrid products that combine blockchain speed with traditional reliability.

Officials anticipate the first licensed crypto bank could launch within months, potentially offering crypto-secured loans, token-linked payment cards, and salary payments in digital assets.

Historical Context and Strategic Positioning

Belarus pioneered crypto-friendly rules with early decrees (notably in 2017-2018), granting tax exemptions for mining, trading, and token issuance while legalizing smart contracts and exchanges. These measures created a supportive ecosystem within the HTP, drawing blockchain firms despite global challenges.

The latest decree advances this vision, shifting from experimental policies to institutionalized integration. It contrasts sharply with stricter approaches in neighboring Russia and aligns with Belarus’s goals to leverage surplus energy for mining and reduce reliance on traditional currencies.

Recent statements from National Bank representatives highlight expectations for rapid implementation, with potential first operations following regulatory alignment.

Broader Implications and Market Outlook

By formalizing crypto banks, Belarus aims to attract international blockchain investments, foster financial innovation, and enhance cross-border efficiency amid regional dynamics. The framework supports tokenized finance trends globally, positioning the country as a competitive jurisdiction for regulated digital asset services.

Market observers note cautious optimism, with investors watching for implementation details and broader Eurasian Economic Union (EAEU) alignment on crypto rules. This could unlock greater regional flows while maintaining state oversight.