Belarus moves towards launch of first regulated crypto bank within six months

Belarus may see the launch of its first fully regulated crypto bank within the next six months, following the signing of a presidential decree establishing a legal framework for crypto banking activities. The move positions the country among the first globally to introduce crypto banks through comprehensive legislation rather than pilot programmes.

According to the National Bank of Belarus, the decree opens the door to the creation of a new financial institution that integrates the functions of a traditional bank with those of a cryptocurrency exchange. This is reported by BelTA, a partner of TV BRICS.

Under the new framework, crypto banks will be able to operate with both fiat currencies and digital assets on a unified balance sheet, eliminating the traditional separation between conventional banking and crypto services. The model allows individuals and businesses to manage, store, exchange and use cryptocurrencies alongside traditional money within a single regulated institution.

One of the key innovations is the possibility for self-employed individuals to receive income in cryptocurrency, provided payments are processed through a crypto bank. The decree also significantly expands the range of crypto-related financial services, including lending secured by digital assets, a mechanism expected to attract participants from the mining and digital investment sectors.

Crypto banks will operate under the supervision of the National Bank, ensuring regulatory oversight, financial stability requirements and protection of client funds.

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