Belarus Ministry of Internal Affairs to Ban Personal-to-Person T
The Belarusian government announced on July 2 that due to the need to combat crime, the country will ban the use of cryptocurrencies for transactions between individuals.
A spokesperson for the Information Department of the Ministry of Internal Affairs of Belarus said on the 2nd: "The Ministry of Internal Affairs is working on legislative innovation to prohibit cryptocurrency exchange transactions between individuals. In order to increase transaction transparency and strengthen government supervision, traders will only be able to pass through the Belarus High-Tech Park ( HTP) exchanges for (cryptocurrency) transactions.”
The Ministry of Internal Affairs of Belarus explained that the decision was aimed at combating cybercrime. In the first half of 2023 alone, the staff of the Belarusian Cybercrime Suppression Department has cracked down on 27 illegal service transactions using cryptocurrency regulatory loopholes. The total amount of illegal income from these 27 incidents was nearly 22 million Belarusian rubles (approximately RMB 63.15 million).
A spokesperson for the Information Department of the Ministry of Internal Affairs of Belarus said on the 2nd: "The Ministry of Internal Affairs is working on legislative innovation to prohibit cryptocurrency exchange transactions between individuals. In order to increase transaction transparency and strengthen government supervision, traders will only be able to pass through the Belarus High-Tech Park ( HTP) exchanges for (cryptocurrency) transactions.”
The Ministry of Internal Affairs of Belarus explained that the decision was aimed at combating cybercrime. In the first half of 2023 alone, the staff of the Belarusian Cybercrime Suppression Department has cracked down on 27 illegal service transactions using cryptocurrency regulatory loopholes. The total amount of illegal income from these 27 incidents was nearly 22 million Belarusian rubles (approximately RMB 63.15 million).
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