Regulator: National Bank of the Republic of Belarus (NBRB)
Belarus legalized cryptocurrencies and smart contracts under the landmark Decree No.8 "On the Development of Digital Economy" (effective March 28, 2018), especially for companies inside their special Hi-Tech Park (HTP). HTP residents can register crypto exchanges, issue tokens, mine, and trade cryptocurrencies, with tax breaks layered on top, not specific stablecoin rules, but a permissive sandbox.
More recently, the National Bank (NBRB) has drafted new crypto payment regulations (August 2025) aimed at expanding beyond the HTP and integrating digital assets into broader financial policy. These are still proposals, not enacted law.
