Peer-to-peer (P2P) cryptocurrency transactions will be prohibited by law in Belarus in order to combat fraud, the Ministry of Internal Affairs announced in a Telegram message on Sunday. Only exchanges located in the Belarus Hi-Tech Park (HTP) will be permitted to accept cryptocurrency transactions from citizens of the east European nation, “for the sake of transparency and control.”According to the ministry, it has tracked down 27 individuals who offer illicit cryptocurrency exchange services that scammers use to obtain money from their schemes.
“The introduction of a practice similar to the procedure for exchanging foreign currencies will make it impossible to withdraw money obtained through criminal means. In such conditions, it will simply be unprofitable for IT fraudsters to operate in Belarus,” the statement read.