Belarus Enacts New Law Allowing Establishment of Crypto Banks

Belarusian President Alexander Lukashenko has signed a new law known as Decree No. 19. The law, titled “On Crypto Banks and Certain Issues of Regulation in the Sphere of Digital Tokens,” establishes a clear framework for integrating digital assets into traditional banking services.

Eligible institutions can now integrate token-based operations with traditional economic activities, provided they comply with established regulations. Officials highlight the potential to develop new products that merge the security of banking with the efficiency of blockchain technology.

Regulatory and Operational Requirements

A crypto bank is a joint-stock company authorized to conduct activities involving digital tokens, in addition to banking, payment, and related financial operations. To qualify as a crypto bank, the new law requires an entity first to obtain resident status in Belarus’s High-Tech Park, a special economic zone that offers tax incentives and streamlined procedures for technology companies.

Additionally, crypto banks in Belarus must be registered in a National Bank-maintained registry, ensuring that only vetted participants enter the market. They operate under a dual regulatory regime, complying with non-bank financial organization laws, which cover capital adequacy, risk management, anti-money laundering, counter-terrorism financing, and consumer protection.

Moreover, they must comply with regulations issued by the High-Tech Park Supervisory Board to maintain innovation and stability. This framework, established by pro-crypto policies in 2017-2018, legalized crypto exchanges, ICOs, and mining. Alexander Egorov from the National Bank said the first crypto bank could start operating in six months.

Moldova Plans MiCA-Aligned Crypto Framework

In a separate development, Moldova’s government announced plans to draft clear rules for cryptocurrencies by the end of 2026. These rules will match the European Union’s Markets in Crypto-Assets (MiCA) regulations. Finance Minister Andrian Gavriliță shared this information during an interview with state television channel TVR Moldova.

According to the proposed regulations, Moldovan citizens will be allowed to own, trade, and convert cryptocurrencies into fiat currency or other assets through licensed financial institutions. However, the use of cryptocurrency as a direct method of payment within the country will be explicitly prohibited, mainly due to concerns about price volatility and the risk of money laundering.

The regulation maintains that while simply holding digital assets will remain untaxed, any profits realized from trading them will be subject to a 12% personal income tax for Moldovan tax residents. Authorities plan to publish the draft law for public consultation in late spring 2026, ahead of its anticipated implementation later that year.

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