Belarus prohibits the exchange of cryptocurrencies for individuals

The Ministry of Internal Affairs of the country has begun preparations for amendments to the laws of Belarus. The structure wants to ban the exchange of crypto assets among individuals. They explain this by increased fraud.

What law enforcement officers say

Law enforcement officials reported that thanks to the exchange, the attackers are cashing out and converting the stolen amounts. They also carry out transactions of monetary amounts for the organizers and participants of fraudulent schemes.

In 2023, the law enforcement agencies of the structure had to ban such activities from 27 intruders. They provided crypto exchange services that were illegal.

Law enforcement officers noted that the total amount reached about 22 million Belarusian rubles. This is about $8.7 million at the time of writing.

To ensure a clean and controlled exchange with digital assets, citizens will be provided with the procedure only on the crypto exchange of the Hi-Tech Park.

The Interior Ministry stressed that this initiative will not allow attackers to conduct transactions with digital assets that they received illegally.

It should be noted that last month a large-scale crypto exchange that worked illegally was liquidated in the capital. The profit from its activities reached at least 9 million bel. rub. This is about $3.5 million.

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