Лукашенко вводит новую эру: к криптобанкам в Беларуси добавляются новые финансовые горизонты Headline: Lukashenko Introduces a New Era: New Financial Horizons Added with Crypto Banks in Belarus

On January 16, Belarusian President Alexander Lukashenko signed a law titled «On Cryptobanks and Certain Matters of Control in the Sphere of Digital Tokens.»

According to decree No. 19, a cryptobank is recognized as a joint-stock company registered in the HTP, which is included in a special register maintained by the National Bank. These entities will be allowed to carry out token transactions in addition to traditional banking and financial services.

They will be subject to a dual regulation model: overseen by both the Central Bank of Belarus and the High-Tech Park.

Such establishments must adhere to the legal requirements applicable to non-bank credit and financial organizations. This includes capital adequacy norms, risk management, compliance with AML/CFT regulations, and consumer protection measures.

Cryptobanks are also required to implement the decisions made by the Supervisory Board of the HTP. This economic zone in Belarus operates under a special legal framework that offers residents significant tax incentives and simplified procedures as stipulated in decree No. 8.

«Dual regulation will enable cryptobanks to offer clients innovative financial products that combine the advantages of traditional banking operations with the technological benefits, speed, and convenience of digital token transactions,» stated on the president’s website.

Lukashenko has repeatedly expressed his views on cryptocurrencies, urging the government to establish clear and transparent rules and mechanisms for controlling the digital asset market. He also tasked banks with accelerating the implementation of virtual payment systems, starting with QR codes.

In early 2025, the Belarusian leader suggested to Energy Minister Alexey Kushnarenko the development of cryptocurrency mining in the country, later approving the construction of mining farms in the Mogilev region.

It is worth noting that a digital ruble will be fully operational in the republic by the second half of 2026.