Belarus has registered its first two unnamed crypto banks as residents of the High-Tech Park special economic zone, marking a major step in merging digital token operations with traditional banking. Authorized under Presidential Decree No. 19 signed by President Alexander Lukashenko in January 2026, these joint-stock institutions will be jointly regulated by the High-Tech Park and the National Bank of Belarus. The banks must secure final National Bank accreditation before launching full operations.
Presidential Decree No. 19
- ▪The core provisions of Presidential Decree No. 19 took effect around July 2026 following a six-month period dedicated to drafting supporting regulations
- ▪President Alexander Lukashenko signed Presidential Decree No. 19 on January 16, 2026, establishing the legal framework for crypto banks in Belarus
- ▪Under Presidential Decree No. 19, crypto banks in Belarus must operate as joint-stock companies and hold resident status within the High-Tech Park
The 2017 cryptocurrency decree
- ▪A 2017 decree signed by President Alexander Lukashenko legalized cryptocurrency mining and trading in Belarus
- ▪President Alexander Lukashenko signed a decree in 2017 that legalized cryptocurrency activities and granted tax exemptions to crypto businesses within the High-Tech Park
Debatable claims
- ▪State-sanctioned crypto frameworks undermine the decentralized ethos of digital assets
- ▪Integrating cryptocurrency and traditional banking under a single institution threatens systemic financial stability
- ▪Belarus should publicly disclose the identities of its newly registered crypto banks
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