Belarus Creates Legal Framework for Bitcoin and Crypto Banks in New Decree
Belarus has established a legal framework for crypto banks via Decree No. 19, integrating digital token activities with traditional banking services.Summary
Belarusian President Alexander Lukashenko signed Decree No. 19, officially creating a legal framework for bitcoin and crypto banks, positioning the country as a hub for fintech innovation. A crypto bank is defined as a joint-stock company resident in Belarus' High-Tech Park (HTP) and listed in the National Bank of Belarus' registry. These institutions can offer both standard banking services (deposits, loans) and digital token activities, creating a hybrid financial model. They will function as non-bank financial institutions under dual regulation, requiring compliance with capital adequacy, AML/CFT obligations, and HTP Supervisory Board decisions. This move is part of Belarus' broader strategy to integrate digital finance, following earlier pro-crypto measures like tax-free mining and trading established in 2017.
(Source：Bitcoin Magazine)