The Belarusian Ministry of Internal Affairs is exploring amendments to current law that would ban peer-to-peer cryptocurrency exchanges. The department shared this update through its official Telegram channel, signaling a potential shift in how digital assets are handled domestically.
Officials argue that such trading services are frequently misused by scammers who cash out funds obtained illicitly, transfer proceeds to organizers, or distribute gains to participants in criminal networks. To curb these activities, the ministry is considering legislative steps that would prohibit direct cryptocurrency transactions between individuals, aiming to close loopholes that criminals have exploited in the past.
In parallel, the Belarusian Foreign Ministry signaled a preference for greater oversight and transparency in crypto activity. It stated that transfers would be permitted only when conducted through exchanges operating within the High-Tech Park framework, a regulated environment designed to foster innovation while maintaining control over financial flows.
From early 2023 onward, authorities have disrupted operations involving illegal cryptocurrency exchange services. A reported 27 individuals were implicated in providing unauthorized exchange services, with combined illicit earnings totaling approximately 22 million Belarusian rubles, equivalent to about 641.3 million rubles at the time of reporting. These figures underscore the scale of unauthorized activity that such legislative changes intend to address. (Source: Ministry statements, corroborated by law enforcement briefings)
Meanwhile, reporting from the Russian Legal and Forensic Information Agency highlights a parallel development. The Supreme Court in Russia overturned the acquittal of a defendant accused of laundering bitcoins, reinforcing the interpretation that converting bitcoins into rubles can constitute money laundering. This ruling has implications for how cross-border crypto activity might be evaluated in neighboring jurisdictions. (Source: RAPSI)
Looking back to market dynamics, speculation about the bitcoin price in the broader region has seen periods of volatility. Recent chatter suggested that the cryptocurrency might retest price levels near 60,000 USD, a scenario often discussed in financial commentary and market analyses. Such price movements influence regulatory debates about crypto usage, enforcement, and the need for clear, enforceable rules that protect consumers while supporting legitimate innovation. (Source: market coverage and official statements)