Belarus Launches Regulatory Framework for ‘Cryptobanks’ in 2026

Belarus has taken a significant step toward integrating digital assets into its financial system with the introduction of a regulatory framework for 'cryptobanks.' President Alexander Lukashenko's Decree No. 19 outlines the rules and requirements for these entities, enabling them to blend token-based operations with traditional banking services.

The decree classifies cryptobanks as joint-stock companies authorized to offer both token-based and conventional banking, payments, and other financial services. To operate, these institutions must first secure resident status in the country's Hi-Tech Park and register with the central bank.

This MOVE opens the door for hybrid financial products that combine traditional banking with blockchain-based transactions, potentially enhancing accessibility and efficiency. However, participation is restricted to firms willing to comply with Belarus' national regulatory framework.

The legislation reflects years of gradual policy shifts emphasizing state oversight alongside innovation. It aims to position Belarus as a financial IT hub while addressing the challenges of integrating digital assets into the mainstream economy.