Belarus authorizes ‘cryptobanks’ combining token operations with traditional banking

Belarusian President Alexander Lukashenko signed Decree No. 19 on January 16, creating a regulatory framework for 'cryptobanks.' This decree permits joint-stock companies located in the High-Tech Park (HTP), a special economic zone, to integrate digital token operations with traditional banking and financial services. These entities will be subject to dual supervision by HTP authorities and the National Bank of the Republic of Belarus. To qualify, a company must be an HTP resident and be listed in a dedicated register maintained by the central bank. This move aligns with Belarus's broader strategy to channel digital asset activity through state-vetted domestic entities, following previous directives to develop crypto-mining and restrictions placed on major international crypto exchanges.

(Source：The Block)