Crypto: Belarus Creates Legal Framework For ‘cryptobanks’ In New...

The rules allow banks to combine token activity with payments and financial services under central bank and tech park oversight.

Belarus has introduced a legal framework for so-called “cryptobanks,” formally integrating digital asset activity into the country’s regulated banking system under direct state oversight.

On Friday, Belarusian President Alexander Lukashenko signed Decree No. 19, defining how crypto banks may operate and what conditions they must meet to enter the market.

The decree positions cryptobanks as joint-stock companies authorized to combine token-based operations with traditional banking, payments and related financial services. Rather than creating a parallel sector for crypto, the framework ties digital asset activity to existing financial oversight mechanisms and infrastructure.

Under the rules, cryptobanks must obtain resident status in the country’s Hi-Tech Park, a state-backed technology zone. In addition, cryptobanks must be entered into a dedicated register maintained by the country’s central bank.

🇧🇾 JUST IN: Belarus has signed a decree giving crypto banks legal status. pic.twitter.com/IolJNNCTJr

According to the decree, cryptobanks are required to comply with rules applied to non-bank credit and financial institutions. They must also implement decisions issued by the Hi-Tech Park’s supervisory board.

The layered approach subjects crypto-related banking activity to both financial and technological oversight.

According to the government, this dual regulation approach will let cryptobanks offer innovative products that blend conventional banking services with efficiencies contributed by token-based transactions.

In practice, this allows delivery of crypto services through licensed entities already embedded in the financial system. The framework narrows participation to firms willing to operate within the country’s regulatory parameters.

Source: CoinTelegraph