Belarus registers first crypto banks under new regulatory framework

Belarus just became one of the first countries in the world to formally register crypto banks, institutions designed to merge digital token operations with conventional banking under a single roof. Two such entities were registered on September 28, 2026, as residents of the country’s High-Tech Park (HTP), the special economic zone that has served as the incubator for Belarus’s tech ambitions since 2005. The registrations follow the implementation of Presidential Decree No. 19, signed by President Alexander Lukashenko on January 16, 2026. The decree’s core provisions kicked in around July after a six-month period reserved for drafting supporting regulations. What Belarus is actually building Under Decree No. 19, crypto banks must operate as joint-stock companies, the same corporate structure required of traditional banks in most jurisdictions. They also need to hold formal resident status within the HTP, which functions as a regulatory sandbox with its own set of tax incentives and oversight mechanisms. These new institutions answer to both the HTP administration and the National Bank of the Republic of Belarus simultaneously. Permitted activities include integrating token transacti...