- President Alexander Lukashenko signed Decree No. 19 to establish rules for operation and market entry.
- Crypto banks must obtain Hi-Tech Park residency and be registered in a cryptocurrency ledger maintained by the central bank.
- The model introduces dual oversight through financial regulations and decisions of the Hi-Tech Park supervisory council.
Belarus is moving digital assets closer to the core of its financial system by introducing a legal framework for “cryptocurrencies.”
Rather than treating cryptocurrencies as an entirely separate industry, the country is building a model where token-related services operate within existing banking structures and are overseen by state authorities.
On Friday, President Alexander Lukashenko signed Decree No. 19, which defines how cryptocurrencies may operate and what conditions they must meet to access the market.
This measure provides Belarus with a regulated path for crypto-related banking services while tightening controls over who may offer those services.
What Decree No. 19 allows crypto banks to do
Under the decree, crypto banks are defined as joint-stock companies that can combine token-based activities with traditional banking functions.
That includes banking services, payments, and related financial operations, but now within a formal legal structure.
Instead of creating a parallel “crypto sector,” Belarus ties digital-asset operations to the same financial oversight mechanisms and infrastructure that already govern mainstream institutions.
This approach signals an effort to keep crypto activity within a controlled and traceable system.
Participation in crypto banking will not be open to everyone. The framework limits involvement to companies that agree to operate strictly in accordance with the country’s regulatory requirements.
Hi‑Tech Park rules now apply to crypto banking
A key element of the new framework is the Hi‑Tech Park, a state-supported technology zone that already plays a major role in Belarus’s digital economy strategy.
According to the decree, a crypto bank must obtain resident status in the Hi‑Tech Park before it can enter the market.
In addition, cryptocurrencies must be recorded in a dedicated registry that will be maintained by the country’s central bank.
This structure effectively places market access behind formal approvals, ensuring the state can monitor who is active and under which rules they operate.
Crypto banks face dual supervision and compliance obligations
Belarus applies a layered supervision model to cryptocurrencies, imposing requirements that go beyond standard financial compliance.
Under the decree, crypto banks must comply with rules that apply to credit institutions and non-bank financial organizations.
They must also implement decisions issued by the Hi‑Tech Park supervisory council.
This establishes dual oversight that combines financial regulation with technological supervision.
Authorities say the approach is designed to support innovative products that combine conventional banking services with the efficiency of token-based transactions.
In practical terms, it allows crypto-related services to be provided through licensed entities that are already integrated into the formal banking environment.
The new cryptocurrency rules fit a broader policy direction in which digital assets are permitted only within clearly defined and state-approved limits.