Belarus Establishes Legal Framework for Crypto Banks
Belarus has taken a significant step toward integrating digital assets into its financial system with President Alexander Lukashenko signing Decree No. 19, titled 'On Crypto Banks and Certain Issues of Control in the Sphere of Digital Tokens.' The MOVE aims to position Belarus as a hub for financial IT innovation while creating a regulated environment for crypto banking.
Crypto banks, defined as joint-stock companies authorized to combine digital token operations with traditional banking services, will operate under dual regulatory oversight. Eligible entities must hold resident status within Belarus’s High-Tech Park (HTP) and be listed in a dedicated registry maintained by the National Bank of Belarus.
The framework allows crypto banks to offer blockchain-based financial products alongside conventional services, signaling a broader institutional embrace of digital assets. This development could accelerate cryptocurrency adoption in Eastern Europe.