A Foreigner Set Up An Cryptocurrency Exchange In Belarus, But Not For Long

A foreigner who organized an illegal cryptocurrency exchange in Belarus will be fined, and the court will require that all funds received go to the state treasury.

The Ministry of Internal Affairs of the Republic of Belarus reported that a 22-year-old citizen of another country opened a digital asset exchange in Minsk, and now the young man will have to pay a fine.

According to the report, the young man spent 270,000 Belarusian rubles (about $107,000) in assets through his crypto wallet between February and April 2023. The arrested man does not face any criminal punishment, but he will receive a fine.

A representative of the police stated:

"It was established that a 22-year-old foreigner, who lived in Minsk, offered services for buying and selling tokens on specialized websites and conducted transactions. A protocol of an administrative offense was drawn up against him for illegal entrepreneurial activity."