Belarus greenlights establishment of digital-asset banks in surprise move… President Lukashenko signs decree

Belarus is formally introducing a so-called “crypto bank” regime that combines digital assets with traditional finance.

According to Belarus’ state news agency BELTA on the 16th (KST), Belarusian President Alexander Lukashenko on the same day signed Presidential Decree No. 19, titled “On Certain Issues Related to the Regulation of Crypto Banks and Digital Assets (Tokens).”

The decree is positioned as a step to establish Belarus as a leading country in financial information technology (IT), setting out a legal framework for the establishment and operation of crypto banks in the country.

Specifically, the decree provides crypto banks with the authority to conduct activities using digital assets (tokens), while also offering banking business, payments and settlement, and other related financial services.

To operate as a crypto bank, an entity must obtain resident status at the Belarus High Technologies Park (HTP) and be entered into a register administered by the central bank, the National Bank of the Republic of Belarus.