Journalist
Tanzeel Akhtar
Journalist
Share
Belarus has taken a formal step toward integrating digital assets into its financial system with President Alexander Lukashenko signing a decree that introduces a framework for crypto banks, according to the Belarusian state news agency BELTA.
Lukashenko signed Decree No. 19, titled “On Crypto Banks and Certain Issues of Control in the Sphere of Digital Tokens,” on January 16. The document aims to reinforce Belarus’s positioning as a hub for financial IT innovation while creating regulated conditions for crypto banking activity within the country.
Defining Crypto Banks Under Belarusian Law
According to the report the decree formally defines a crypto bank as a joint-stock company authorised to combine digital token operations with traditional banking, payment and related financial services.
Under the new framework crypto banks will be able to offer products that integrate blockchain-based instruments alongside conventional financial operations.
To be eligible to operate a crypto bank must hold resident status within Belarus’s High-Tech Park (HTP), a special economic zone designed to attract technology and innovation-focused businesses. The eligible entities must also be included in a dedicated crypto bank registry maintained by the National Bank of Belarus.
Dual Regulatory Oversight Introduced
BELTA reports that crypto banks will be subject to a dual regulatory structure. They must also comply with legislation applicable to non-bank credit and financial institutions, crypto banks must also adhere to decisions issued by the Supervisory Board of the High-Tech Park.
This layered approach is designed to make sure that innovation in digital finance is accompanied by appropriate oversight. Authorities say the framework allows crypto banks to deliver technologically advanced services while maintaining regulatory standards comparable to those governing traditional financial institutions.
Blending Traditional Banking and Digital Assets
Officials say the decree is intended to allow crypto banks to offer clients a hybrid set of financial products that combine the stability of classical banking with the efficiency and speed of token-based transactions.
Under the new rules crypto banks may facilitate digital asset operations while providing access to banking and payment services positioning them as intermediaries between traditional finance and the digital asset economy.
Belarus’s Fintech Ambitions
The decree is in line with Belarus’s long-standing ambition to establish itself as a leader in financial technology development. Since the creation of the High-Tech Park the country has sought to attract blockchain and crypto-focused companies by offering favourable legal and tax regimes.
By introducing a formal crypto banking model, Belarus is seeking to move beyond crypto experimentation and toward a more structured financial ecosystem that incorporates digital tokens within regulated banking operations.
Belarus Prioritizes Crypto Mining
In November, President Aleksandr Lukashenko positioned crypto mining as a strategic pathway toward reducing global dollar dependency, announcing aggressive expansion plans during a government meeting on energy policy.
The directive builds on previous commitments to transform the country’s surplus nuclear power capacity into a competitive advantage for digital asset production. At the same time, broader geopolitical trends accelerate de-dollarization across multiple continents.
According to a local report, Lukashenko dismissed concerns about market volatility during the November 14 meeting in Minsk, framing crypto as an inevitable component of international efforts to establish monetary alternatives.
Credit: Source link
