Belarus to Ban Peer-to-Peer Cryptocurrency Transactions
The Belarusian Ministry of Internal Affairs said in a Telegram Post on Sunday that the country plans to legislate a ban on peer-to-peer (P2P) cryptocurrency transactions in an effort to reduce fraud.
"For the sake of transparency and control," residents of the Eastern European country will only be able to trade cryptocurrencies through exchanges located in Belarus' Hi-Tech Park aka HTP.
The Ministry said it has identified 27 illegal people offer crypto exchange services, through which scammers obtain the proceeds of their activities.
According to the statement, "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."
(Source: CoinDesk)
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