Belarus has taken a significant step toward formalizing digital finance by introducing a legal framework for cryptobanks, integrating crypto activity directly into the country’s regulated banking system. The move follows a new presidential decree signed on January 16, reinforcing state oversight while allowing controlled innovation in token-based financial services.
Cryptobanks Integrated Into the Banking System
Under the new rules, cryptobanks will operate as joint-stock companies authorized to combine token-related operations with traditional banking, payments, and financial services. Rather than creating a separate crypto sector, Belarus has chosen to embed digital asset activity within existing financial infrastructure.
To operate legally, cryptobanks must obtain resident status in the state-backed Hi-Tech Park and be listed in a special register maintained by the central bank. This ensures that crypto-related banking services remain fully traceable and compliant with national regulations.
According to the cointelegraph;
Dual Oversight and State Control
Cryptobanks will be subject to dual oversight, complying with regulations for non-bank financial institutions while also adhering to decisions from the Hi-Tech Park supervisory board. Authorities say this layered structure allows innovation while maintaining tight regulatory control.
The decree aligns with Belarus’s long-standing policy of permitting crypto activity only within clearly defined, state-approved channels. Officials view the framework as a way to strengthen the country’s position as a financial IT hub, while limiting unregulated crypto activity.
The new framework follows earlier government actions, including calls for clearer crypto rules, encouragement of crypto-based payments, and recent efforts to restrict access to offshore exchanges, signaling a tightly managed but expanding role for digital assets in Belarus’s financial system.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.