Belarus has formally registered its first two crypto banks as residents of the High-Tech Park (HTP), marking a significant step in the country’s effort to merge digital asset operations with traditional banking services. The identities of the two institutions have not been disclosed, but authorities described them as operators with proven experience in the sector and professionally built teams that have upgraded their technology systems.
The milestone is a direct consequence of Presidential Decree No. 19, signed by President Alexander Lukashenko on January 16, 2026. After roughly six months of complementary regulatory work involving the HTP and the National Bank of the Republic of Belarus, the decree’s core provisions entered into force around July 2026. Both companies initially registered as HTP residents and must now complete a second step: obtaining approval in the National Bank’s specific registry before they can begin operations.
Under the new framework, crypto banks must be incorporated as joint-stock companies and maintain formal residency within the HTP, the special economic zone that has served as the country’s technology incubator since 2005. They answer simultaneously to the HTP administration and the National Bank, combining tax incentives with anti-money laundering compliance controls. Permitted activities include fiat currency deposits, credit operations, digital asset custody, and token-based transfers, allowing a single entity to manage both traditional and crypto financial services.
The launch of services is expected in the second half of 2026, depending on how quickly the National Bank processes the applications. The approach builds on Belarus’s earlier policy: in 2017, Lukashenko signed a decree legalizing cryptocurrency activities and granting tax exemptions to crypto companies in the HTP until 2023, a framework that evolved into the more comprehensive Decree No. 19.
