TLDR
- Belarus introduced a formal crypto bank framework after President Alexander Lukashenko signed a decree on January 16.
- The decree defines a cryptobank as a joint stock company combining token services with banking and payment activities.
- Crypto banks must hold High Tech Park residency and join the National Bank’s official cryptobank register.
- The framework applies dual supervision by High Tech Park authorities and the National Bank of the Republic of Belarus.
- Market conditions eased as the rules allow eligible firms to offer token services alongside traditional banking.
Belarus has advanced its digital finance agenda after President Alexander Lukashenko signed a new decree on cryptobanks and tokens. The decree sets formal rules for crypto banking activities while tightening oversight of digital token operations. Authorities confirmed the document aims to strengthen Belarus’s position in financial technology and regulated digital assets.
Decree Defines Cryptobank Operations and Market Access
The decree, signed on January 16, introduces a legal framework for cryptobanks operating within Belarus. It defines a cryptobank as a joint stock company combining token services with banking and payment activities. The rules seek to align digital finance with existing financial systems.
Under the decree, cryptobanks must obtain High Tech Park residency status before entering the market. They must also secure inclusion in the National Bank’s official cryptobank register. These steps establish formal entry conditions for token based financial institutions.
The framework places cryptobanks under dual supervision by High Tech Park authorities and the National Bank. Regulators require compliance with rules governing non bank credit institutions. Authorities stated this structure supports innovation while maintaining financial oversight.
Earlier Restrictions Shaped Belarus Crypto Policy
Belarus previously tightened access to foreign crypto platforms during regulatory actions taken last year. State authorities blocked several global exchanges through national internet providers. Users reported access restrictions affecting Bitget, ByBit, OKX, and other platforms. The Ministry of Information later cited advertising violations as the basis for those restrictions.
Officials referenced Article 511 of the Law on Mass Media to justify blocking decisions. Traders reported platforms loaded only through VPN tools during that period. In another development, President Lukashenko had earlier addressed cryptocurrency during discussions on electricity consumption and capacity planning. He linked digital assets to broader debates on currency dependence.
His remarks followed reviews of nuclear plant performance and rising power demand. The signing of the decree confirms that the market has eased as the rules allow eligible High Tech Park firms to offer token services alongside traditional banking. Authorities confirmed dual supervision will apply through park bodies and the National Bank of the Republic of Belarus.
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