Belarus has officially introduced a legal framework for ‘cryptobanks’, financial institutions that combine traditional banking services with operations related to digital assets. Decree No. 19, signed by President Alexander Lukashenko, sets out the authorisation conditions, supervisory regime, and permitted activities for these institutions.
The Belarusian government aims to integrate digital assets into the country’s regulated financial system, rather than allowing them to develop in a parallel, unregulated market. The decree establishes the registration, supervision, and obligations of cryptobanks under direct state oversight.
Background: what is happening in Belarus
On 16 January 2026, President Lukashenko signed Decree No. 19, formally introducing cryptobanks into Belarusian law. These entities are defined as joint-stock companies that can carry out token-related activities while offering traditional banking services.
The decree reflects a ‘controlled crypto’ approach: instead of creating a separate crypto sector, Minsk is incorporating digital asset activities into existing supervisory frameworks. Cryptobanks must obtain resident status in Belarus’ High-Tech Park and register in a dedicated register managed by the National Bank of Belarus.
Before this law, cryptocurrency-related activities were mostly tolerated under specific frameworks, such as exemptions granted to High-Tech Park companies since 2017. Official banking integration for crypto, however, was limited.
What this means in practice
Under Decree No. 19, cryptobanks are legally allowed to:
- Offer traditional banking services, including deposits, payments, and loans
- Manage digital assets through token-based transactions
- Combine these two areas within a single institution, subject to regulatory approval
In practical terms, this means that approved and supervised crypto banks can provide hybrid products that merge traditional finance and digital assets.
Key facts, dates and figures
- 16 January 2026: Decree No. 19 signed by President Lukashenko
- Purpose: establishes the legal status of cryptobanks
- Supervision: the National Bank oversees financial aspects; the High-Tech Park oversees technological and operational aspects
- Entry requirements: resident status in the High-Tech Park and registration in a dedicated register
- Previous framework: High-Tech Park crypto exemptions date back to 2017
Why this matters
With this decree, Belarus positions itself as a country integrating cryptocurrencies into its financial system while retaining significant state control. Other countries have taken similar approaches, aiming to regulate digital assets rather than letting them grow outside the banking sector.
The decree also strengthens control over unregulated activities. As early as December 2025, Belarus blocked access to several offshore crypto platforms, citing advertising violations. By concentrating crypto activity within approved and supervised entities, Belarus combines openness to blockchain innovation with a desire to limit the grey market.
Impact on the crypto market
Decree No. 19 marks a major step in integrating cryptocurrencies into Belarus’ financial system. Crypto banks can now offer hybrid services, merging traditional banking and digital assets, but within a strictly regulated framework.
Belarus is following a ‘controlled adoption’ strategy: innovation is allowed, but only under institutional supervision. This approach responds both to sanctions pressures and the government’s desire to develop a digital financial sector while maintaining oversight.
