Belarus Legalizes Crypto Banks Under New Digital Token Law
The Republic of Belarus has taken a major step toward legalizing its digital asset sector. Earlier today, President Alexander Lukashenko signed a new law that officially allows the establishment of “crypto banks” in the European country. This development intends to bridge the gap between the traditional financial system and crypto.
With this strategic move, Belarus intends to regulate the country’s developing crypto market, rather than restricting it. By establishing a clear regulatory framework, the country envisions integrating crypto into the banking system.
How Belarus Plans to Regulate Crypto Banks
The law titled “On Crypto Banks and Certain Issues of Control in the Sphere of Digital Tokens,” was approved by Belarusian President Alexander Lukashenko on January 16, 2026. Under this law, the country is establishing “crypto banks” – the financial institutions allowed to offer crypto services.
A crypto bank is described as a joint-stock company registered under the High Tech Park (HTP) and listed in a special register maintained by the National Bank. These financial institutions will be allowed to carry out crypto transactions in addition to the traditional financial services, according to the new law.
Significantly, these platforms are required to follow the same rules that apply to non-bank financial institutions. This means that they must maintain enough capital and manage risks. They must also comply with anti-money laundering and counter-terrorism financing rules, thereby protecting the rights of their customers.
They will also be guided by the decisions of the HTP Supervisory Board. The HTP is a special economic zone in Belarus that offers companies tax breaks and simple administrative procedures. This makes it an attractive base for crypto-related businesses.
In addition, these institutions will be regulated jointly by both the National Bank of Belarus and the High-Tech Park. The President’s statement read,
“Dual regulation will allow a crypto bank to offer clients innovative financial products that combine the advantages of traditional banking operations with the technological efficiency, speed, and convenience of digital token transactions.”
President Pushes for More Crypto Initiatives
Interestingly, President Alexander Lukashenko has been constantly pushing for crypto-related regulations and developments. He has repeatedly emphasized the need for clear and transparent rules in the digital asset sector.
The president has also asked the government to implement effective control mechanisms for the market. Also, he has asked the country’s banks to speed up the launch of virtual asset payments, starting with QR code-based solutions.
Earlier in 2025, Lukashenko proposed to prioritize the development of crypto mining. He urged Energy Minister Alexey Kushnarenko to approve new crypto mining farms in the Mogilev region.
How Will This Impact the Belarus Crypto Market?
Significantly, the emergence of crypto banks in Belarus will have far-reaching implications on the country’s digital asset market. The European nation is one of the few countries in the continent approaching crypto progressively. This will help the country to come to the forefront of the global crypto market.
According to experts, the move could attract blockchain companies and investors to Belarus. It will also intensify regional competition as neighbouring countries are also exploring ways to integrate crypto into their traditional financial systems.
