New on the Financial Market – Cryptobanks
Edict No. 19 of the President of the Republic of Belarus "On Cryptobanks and Certain Issues of control in the Field of Digital Signs (Tokens)" approving the "Regulations on the Activities of Cryptobanks" was adopted January 16, 2026.
Cryptobank is:
- a joint-stock company,
- a resident of the High-Tech Park,
- included in the register of cryptobanks of the National Bank,
- may be included by the National Bank in the register of payment service providers.
A cryptobank has the right, without obtaining a special permit (license) for banking activities, to:
- open and maintain correspondent and other accounts directly related to the activities of the cryptobank,
- open and maintain bank accounts of non-resident individuals, including sole proprietors and legal entities;
- foreign exchange transactions;
- settlement transactions;
- other banking, payment, and related financial transactions, including those requiring a special permit (license) for banking activities.
The specific list of transactions is determined for each cryptobank by the National Bank in its decision on inclusion in the register.
The list of tokens with which a cryptobank is authorized to conduct transactions (operations), as well as the list of such transactions, is determined by a decision of the Supervisory Board of the High-Tech Park in co-ordination with the National Bank.
Before applying for inclusion in the register, the founders of a cryptobank are required to form an authorized capital of at least 20 million Belarusian rubles by their contributions, including by reinvesting profits of other legal entities (residents and/or non-residents) in which the said persons are property owners, shareholders, beneficial or other owners.
Additionally, no later than 10 business days from the date of inclusion in the register, the cryptobank must deposit 10 million Belarusian rubles with the National Bank in a conditional irrevocable bank deposit.
The Edict also expands the use of tokens as a means of payment under foreign trade contracts by individuals (engaged in crafts, providing services in the field of agro- and ecotourism, or independent professional activities) and legal entities, both residents and non-residents.
The Edict comes into force on July 18, 2026.
