Belarus Registers First Crypto Banks Under New Digital Asset Framework
Belarus has opened its first crypto banks, leveraging a legal framework established earlier this year by President Alexander Lukashenko. These new financial institutions, regulated by the National Bank and High-Tech Park, aim to integrate traditional finance with the crypto industry and attract foreign investment. This move builds on Belarus's long-standing pro-crypto policies, including the legalization of mining and trading.
Belarus has registered the first crypto banks in the country, marking a new stage in its effort to integrate digital assets with conventional financial services. The development was announced on September 28, 2026, following a meeting of the supervisory board of the country’s High-Tech Park, with two institutions reportedly registered under the new framework.
However, the banks must still obtain accreditation from the National Bank of Belarus and be included in its official crypto-bank registry before they can begin operations. The framework was established in January 2026, when President Alexander Lukashenko signed Decree No. 19 on crypto banks and the control of digital tokens.
Under the decree, crypto banks must be joint-stock companies based in the High-Tech Park and are permitted to combine digital-token activities with banking, payment and related financial services, under oversight from both the High-Tech Park and the National Bank. The High-Tech Park says the new structure could improve financial infrastructure, increase technological capabilities and attract investment into Belarus, while officials have described the registration of the first institutions as a milestone for the country’s digital economy.
Belarus’ move into crypto banking builds on policies dating back to 2017, when the country established a legal framework for cryptocurrency mining and trading and introduced tax incentives for individuals’ crypto-related income.
The government has since continued expanding the permitted uses of digital tokens, including allowing certain businesses to use them for foreign-trade settlements through crypto banks under rules introduced in June 2026. President Lukashenko has also backed cryptocurrency mining and previously supported the National Bank’s proposal to establish crypto banks, while officials said foreign financial institutions had expressed interest in participating in the emerging sector.