Belarus took a major step on January 16, 2026, when President Aleksandr Lukashenko signed Decree No. 19 to set rules for so-called “cryptobanks.” The move creates a clear legal spot for companies that want to mix token services with classic banking and payment work. Decree Defines Cryptobanks And Rules According to the decree, a cryptobank is a joint-stock company that may carry out token operations alongside banking, payment and other financial services. Reports have disclosed that these firms must be residents of the Belarus High-Tech Park (HTP) and will be listed in a special register kept by the National Bank. The new document ties cryptobank status to HTP residency, which aims to concentrate activity inside a known tech zone. That requirement also means the HTP’s rules will play a role in daily oversight. Requirements For Market Entry Based on reports from regulators, cryptobanks will face dual supervision: oversight from both the National Bank of the Republic of Belarus and the HTP’s governing bodies. This twin structure is meant to let token services grow while keeping closer control of financial risks. Officials say cryptobanks will follow many of the rules that apply to non-bank credit and financial organizations, including standards for capital, risk controls and anti-money-laundering checks. That suggests applicants will need to show robust compliance systems before being accepted into the register. Belarus: Short-Term Business Plans National Bank officials said that the decree could be followed by real market steps fast. Aliaksandr Yahorau, the First Deputy Chairman of the National Bank, said Belarus could see its first operating cryptobank within six months after laws and rules are aligned. He added that cryptobanks may be able to issue loans secured by cryptocurrency, provide payment cards linked to crypto accounts, and allow self-employed people to receive salaries in tokens. What Comes Next For Belarus The decree builds on earlier efforts to attract tech and crypto business to Belarus, and it clearly signals a state interest in bringing token activity under formal control. The next steps will include drafting implementing rules, creating the special registry at the National Bank, and deciding capital and licensing thresholds for applicants. Featured image from Unsplash, chart from TradingView
