Belarusian President Alexander Lukashenko signed decree No. 19 on January 16, establishing a legal framework for a 'crypto bank' that combines digital token operations with traditional banking services.

This regulation permits joint stock companies with residence qualifications in the High-Tech Park (HTP) to provide token-based financial services integrated with traditional banking, payment, and related operations, applying dual regulatory supervision to this.

Registration and compliance requirements

Crypto banks must obtain residency eligibility in the High-Tech Park, a special economic zone in Belarus, and must complete registration in a dedicated crypto bank register maintained by the National Bank of Belarus.

Under this framework, crypto banks will be subject to dual supervision by both the HTP authorities and the central bank, and must comply with relevant laws regulating non-bank credit and financial institutions.

According to state media BelTA, this legislation aims to strengthen Belarus as a fintech hub by offering hybrid products that combine the security provided by traditional banks with the speed of blockchain transactions.

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Domestic control context

The crypto bank framework follows regulations introduced in September 2024, extending measures that limit individual cryptocurrency transactions to domestic exchanges and trading companies registered in the HTP.

Belarus blocked access to major foreign exchanges such as Bybit, OKX, Bitget, and BingX on December 10, 2024, due to 'inappropriate advertising' violations, but resumed access two days later.

Since none of the temporarily blocked platforms held HTP residency eligibility, local P2P transactions through these platforms operated outside the legal boundaries set by the September regulations.

Mining and energy strategy

This legislation is based on measures directed by President Lukashenko in March 2025, particularly aimed at developing cryptocurrency mining infrastructure in regions with surplus power, such as nuclear power plants.

Companies residing in the High-Tech Park that operate crypto banks will receive preferential tax benefits, with a tax rate of 9% applied to cryptocurrency trading profits instead of the standard rate of 20-25% applicable to non-residents.

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