Plans to approve crypto asset management rules in Belarus
10.04.2026
MINSK (
BelTA) – Rules for working with crypto assets will be approved in Belarus, BelTA learned from First Deputy Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Aleksandr Yegorov.
The head of state signed decree No.19 “On crypto banks and certain matters of control in the sphere of digital signs (tokens)” on 16 January. The document is aimed at strengthening Belarus’ image as a leader in the field of financial IT technologies and provides for enabling conditions conducive to the operation of crypto banks in the country.
An action plan has been developed to implement the decree. It includes the development of bylaws and regulations at the level of the National Bank, joint resolutions of the government and the National Bank, individual government resolutions, and decisions of the Secretariat of the Supervisory Board of the Hi-Tech Park.
“About 60 % of all the measures at the National Bank level have been completed in one form or another – either as drafts or as already approved legal acts. There are, of course, key matters without which the operation of crypto banks would be impossible. First of all, those include the list of crypto currencies or crypto assets that a crypto bank will be able to deal with. A session of the Supervisory Board of the Hi-Tech Park will take place in mid-April. Its participants are expected to consider a document that will approve the rules for working with crypto assets, including the types of transactions and types of crypto currencies,” said Aleksandr Yegorov.
The second important document affects accounting within the framework of a crypto bank. “We still consider crypto banks as banks that will be able to carry out transactions with crypto currencies. Accordingly, accounting will be similar to banking accounting, but with its own minor details that are primarily related to the revaluation of crypto currencies. Because the volatility of the crypto currency market is still higher than the volatility of traditional currency markets or markets of other assets, and these minor details will have to be taken into account,” noted the first deputy chairman of the NBRB Board.
The third important document concerns the necessary prudential requirements for the functioning of crypto banks. “Here we will also rely on what we have in place for banks and will proceed according to the same principle. A crypto bank is a bank that will be able to work with crypto currency. Accordingly, the approaches will be similar to those for ordinary banking activities,” outlined Aleksandr Yegorov.
Participants of today’s meeting at the National Bank are discussing the implementation of a joint plan for the development of legislative acts. “We will synchronize our watches, meaning what has already been done, what will be done, and whether there are any delays anywhere. The chairman of the Board of the National Bank keeps this matter under weekly control in terms of specific milestones. But now it is necessary to discuss what has been done over nearly three months and what still needs to be done. The second important area for discussion is the distribution of functions within the National Bank: which units will be responsible for what. It is obvious that there is a unit whose area of responsibility includes, for example, matters of prudential oversight, but that does not negate the fact that another 5-6 units should assist with implementing this functionality. In order to clearly define the boundaries of who is responsible for what and who is a co-executor. This matter will be considered today,” the first deputy chairman of the Board of the National Bank informed.
The third matter for consideration concerns the operation of crypto banks in terms of future prospects and risks inherent in crypto currencies. “These include matters of fraud, including the fact that crypto platforms are used as a tool for extracting money obtained fraudulently or stolen from citizens. The task is to build a system within crypto banks that would minimize the possibilities of withdrawing such funds,” emphasized Aleksandr Yegorov.
The head of state signed decree No.19 “On crypto banks and certain matters of control in the sphere of digital signs (tokens)” on 16 January. The document is aimed at strengthening Belarus’ image as a leader in the field of financial IT technologies and provides for enabling conditions conducive to the operation of crypto banks in the country.
An action plan has been developed to implement the decree. It includes the development of bylaws and regulations at the level of the National Bank, joint resolutions of the government and the National Bank, individual government resolutions, and decisions of the Secretariat of the Supervisory Board of the Hi-Tech Park.
“About 60 % of all the measures at the National Bank level have been completed in one form or another – either as drafts or as already approved legal acts. There are, of course, key matters without which the operation of crypto banks would be impossible. First of all, those include the list of crypto currencies or crypto assets that a crypto bank will be able to deal with. A session of the Supervisory Board of the Hi-Tech Park will take place in mid-April. Its participants are expected to consider a document that will approve the rules for working with crypto assets, including the types of transactions and types of crypto currencies,” said Aleksandr Yegorov.
The second important document affects accounting within the framework of a crypto bank. “We still consider crypto banks as banks that will be able to carry out transactions with crypto currencies. Accordingly, accounting will be similar to banking accounting, but with its own minor details that are primarily related to the revaluation of crypto currencies. Because the volatility of the crypto currency market is still higher than the volatility of traditional currency markets or markets of other assets, and these minor details will have to be taken into account,” noted the first deputy chairman of the NBRB Board.
The third important document concerns the necessary prudential requirements for the functioning of crypto banks. “Here we will also rely on what we have in place for banks and will proceed according to the same principle. A crypto bank is a bank that will be able to work with crypto currency. Accordingly, the approaches will be similar to those for ordinary banking activities,” outlined Aleksandr Yegorov.
Participants of today’s meeting at the National Bank are discussing the implementation of a joint plan for the development of legislative acts. “We will synchronize our watches, meaning what has already been done, what will be done, and whether there are any delays anywhere. The chairman of the Board of the National Bank keeps this matter under weekly control in terms of specific milestones. But now it is necessary to discuss what has been done over nearly three months and what still needs to be done. The second important area for discussion is the distribution of functions within the National Bank: which units will be responsible for what. It is obvious that there is a unit whose area of responsibility includes, for example, matters of prudential oversight, but that does not negate the fact that another 5-6 units should assist with implementing this functionality. In order to clearly define the boundaries of who is responsible for what and who is a co-executor. This matter will be considered today,” the first deputy chairman of the Board of the National Bank informed.
The third matter for consideration concerns the operation of crypto banks in terms of future prospects and risks inherent in crypto currencies. “These include matters of fraud, including the fact that crypto platforms are used as a tool for extracting money obtained fraudulently or stolen from citizens. The task is to build a system within crypto banks that would minimize the possibilities of withdrawing such funds,” emphasized Aleksandr Yegorov.