Belarus Legalizes Crypto Banks in Bid to Cement Digital Finance Leadership
Belarus President Alexander Lukashenko has signed a decree authorizing cryptocurrency banking operations, marking a strategic push to establish the Eastern European nation as a regional hub for digital finance. The MOVE underscores growing institutional recognition of crypto assets within traditional financial systems.
Decree No. 19 creates a regulatory framework for 'cryptobanks'—joint-stock companies permitted to combine digital token operations with conventional banking services. These institutions must register as residents of Belarus's High-Tech Park, a special economic zone offering tax incentives for tech-focused businesses.
The National Bank of Belarus will maintain a dedicated registry for approved crypto banks, implementing oversight while enabling innovation. This balanced approach mirrors global trends where forward-thinking jurisdictions are creating tailored regulatory environments for digital assets.
