Two residents of Minsk will be fined for the shadow turnover of cryptocurrencies

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Two young Minsk residents face large fines and confiscation of significant assets - law enforcement officers claim that the men organized an illegal exchange of funds prohibited in Belarus.

Countermeasures department staffCybercrime Department of Internal Affairs of the Minsk Region reported that the first detainee was only 21 years old. From last fall to February 2023, a resident of the capital was engaged in the circulation of cryptocurrencies, which allowed him to earn 1.8 million Belarusian rubles (about $600 000). Another resident of Minsk, 24 years old, received an income of 1.2 million rubles ($400,000) using a similar scheme.

The Ministry of Internal Affairs of Belarus is currently preparing documents fortransferring the case to court. Both defendants face significant fines. All funds transferred through the wallets of illegal entrepreneurs will be confiscated and turned into state income.

Law enforcement agencies emphasized:Mining, purchase and sale of tokens by individuals is not prohibited in Belarus. However, business in exchange and trade is prohibited. Such activity in certain cases may be regarded as complicity in criminal offenses such as drug trafficking or money laundering. Then, for organizing a cryptocurrency exchanger, residents of Belarus may face a prison sentence.

At the beginning of the year, one organizer of a cryptocurrency exchange in Belarus was fined
for $1 million