Belarus has officially approved a legal framework to launch crypto banks that merge digital tokens with traditional banking, aiming to roll out the first institution within six months
Key Takeaways
- President Lukashenko signed Decree No. 19, creating a new legal category for crypto banks in Belarus.
- These crypto banks will operate both fiat and digital token services, offering hybrid financial products.
- Institutions must register within the High-Tech Park and obtain dual licenses from both the HTP and National Bank.
- The first crypto bank in Belarus could be operational within six months, according to top central bank officials.
What Happened?
On January 16, Belarus President Alexander Lukashenko signed Decree No. 19, authorizing the establishment of crypto banks. The decree introduces a regulated model allowing joint-stock companies to combine digital asset operations with conventional banking services. These entities, which must be residents of Belarus’s High-Tech Park (HTP), will operate under dual oversight by the HTP and the National Bank of Belarus.
TODAY: Belarus signs Decree No. 19, officially defining and regulating crypto-banks as financial institutions that combine token operations with banking and payments. pic.twitter.com/H3YLN6j0fM
— CoinDesk (@CoinDesk) January 16, 2026
A New Chapter for Belarusian Finance
Belarus is positioning itself as a global pioneer in financial technology by integrating digital tokens and traditional banking under one roof. The decree defines a crypto bank as a joint-stock company that can offer blockchain-based services like digital token management alongside regular financial services such as payment processing and loans.
To qualify, firms must:
- Hold resident status within the High-Tech Park.
- Be listed in a special registry of crypto banks maintained by the National Bank.
- Obtain licenses from both the HTP Supervisory Board and the National Bank.
This framework allows crypto banks to operate with a single balance sheet, treating fiat and cryptocurrencies equally within accounting systems. This means customers could hold crypto-only accounts, receive salaries in digital tokens, or even access crypto-backed loans.
From Vision to Reality in Six Months
Aleksandr Yegorov, First Deputy Chairman of the National Bank, revealed that the first crypto bank could launch within six months, depending on how quickly the regulatory infrastructure is finalized. Authorities are working closely with investors to accelerate applications once the legal groundwork is complete.
According to Yegorov, the decree addresses a long-standing divide between fiat banks and cryptocurrency platforms by bridging the two systems. Until now, Belarusian banks and crypto exchanges operated in completely separate regulatory spaces. This decree introduces a comprehensive, institutional framework that supports seamless interaction between traditional and digital finance.
Key Features and Use Cases
The crypto bank model offers an expanded range of services beyond those currently available through crypto exchanges:
- Salaries in crypto: Self-employed individuals can receive wages in cryptocurrency via crypto banks.
- Crypto debit cards: Customers will be able to link cards to cryptocurrency accounts.
- Crypto-backed loans: Miners and investors can use digital assets like Bitcoin as collateral without liquidating holdings.
- Integrated banking operations: All transactions, whether crypto or fiat, will be recorded under standard bank accounting rules.
Officials say the model ensures fund security and institutional stability, with the National Bank overseeing compliance with financial safety standards.
CoinLaw’s Takeaway
I think this move by Belarus is a bold and strategic step. It shows a rare mix of innovation and regulation that most countries are still grappling with. In my experience following crypto policy worldwide, most governments either clamp down too hard or leave too much unregulated. Belarus is building a clear path for crypto integration without sacrificing financial oversight. I found the ability to treat crypto as a regular currency on the same balance sheet as fiat especially revolutionary. If done right, this could attract serious foreign investment and turn Belarus into a fintech hub.
