Belarus

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 government of Belarus is working on changes to current legislation to incentivize investment. Among other things, investment funds will be given access to cryptocurrencies.

Belarus' Public Accounts Committee is accusing foreign actors of funding unrest and protests inside the country. Now the committee is arguing that these actors are using a local cryptocurrency exchange to transfer funds to protesters.

Governments are continuously recognizing cryptocurrency activities, including mining, through liberal legislation. Until recently, the surplus power was wasted. But some countries now want to use it for mining digital currencies.

Belarus Central Bank is imposing new restrictions on foreign currency transactions in response to EU sanctions. Such a move could create complications for citizens and push them to seek alternatives such as cryptocurrencies.

Internet shutdowns imposed by the country's government as an answer to massive protests against President Alexander Lukashenko have put blockchain and cryptocurrency businesses under threat.

Belarus cybercrime authorities want to confiscate cryptocurrency involved in criminal activity, including money-laundering, terrorism financing and other fraudulent operations. All they need is an official permission from the government and the President.

As Bitcoin continues to trade above $5,000, the President of Belarus, Alexander Lukashenko, revealed that his government will support innovation initiatives associated with cryptocurrency (such as Bitcoin, Ethereum, Ripple) and blockchain technology. He suggests opening a mining farm for crypto.

On the last day of autumn, November 30, Belarus announced legal regulations for crypto-related businesses. All companies that are residents of the Belarus High Technology Park have received the regulator’s support.