The Ministry of Internal Affairs of Belarus is preparing amendments to the legislation to prohibit the exchange of cryptocurrencies between individuals due to increased fraud.
According to law enforcement officers, with the help of exchange transactions, attackers “cash out and convert stolen funds, transfer money to organizers or participants in criminal schemes.”
Since the beginning of the year, employees of the Ministry of Internal Affairs have stopped the activities of 27 persons providing illegal services for the exchange of cryptocurrencies.
“Their total illegal income amounted to almost 22 million Belarusian rubles (more than $8.7 million at the time of writing),” the department noted.
For transparency and control, citizens will be allowed to conduct exchange financial transactions with cryptocurrencies only through the exchanges of the High Technology Park.
“This will make it impossible to withdraw money obtained by criminal means. Under such conditions, it will simply become unprofitable for information technology fraudsters to operate in Belarus,” the Ministry of Internal Affairs said.
Recall that in mid-June, a large illegal cryptocurrency exchanger was liquidated in Minsk, the income from which amounted to at least 9 million Belarusian rubles (over $3.5 million).
Law enforcement officers detained two men on suspicion of illegal exchange of cryptocurrencies and tax evasion.
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