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.
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