Belarus Introduces State-Regulated Cryptobanks

Belarusian President Alexander Lukashenko signed Decree No. 19, creating a legal framework that formally integrates digital asset activity into the regulated banking system under direct state oversight. Cryptobanks are defined as joint-stock companies authorized to combine token-based operations with traditional banking and payment services, rather than creating a separate crypto sector. To operate, these entities must obtain resident status in the state-backed Hi-Tech Park and be registered by the central bank. This dual oversight subjects them to rules for non-bank credit institutions and decisions from the Hi-Tech Park’s supervisory board, aiming to allow innovative products while maintaining control. This move reinforces Belarus's policy of permitting crypto only through state-approved channels and is intended to strengthen the country's image as a financial IT hub, following earlier instructions from Lukashenko to establish clear rules for the crypto market amid international sanctions and growing cross-border digital transactions.

(Source：Cointelegraph)