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“In their work, supervisory and law enforcement agencies face the same type of problems inherent in the entire market. In particular, the decentralized nature of the crypto market and the anonymity of transaction participants make it impossible to create clear algorithms to control transactions. There are limited opportunities to exert legal influence on foreign cryptocurrency platforms,” Gerasimov claims.
The country has already created a register of virtual cryptocurrency wallets, which the authorities are gradually identifying, he added.
“The committee has recently identified about 70. And the more of these cryptocurrencies we see, the more transactions we can track. Last year we have already opened 70 criminal cases related to the illegal movement of cryptocurrencies,” says Gerasimov.
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Mining, purchase and sale of tokens by individuals is not banned in Belarus. However, exchange and trading activities are prohibited.. In certain cases, it can be construed as complicity in criminal offenses, such as drug trafficking or money laundering. Then a resident of Belarus could face imprisonment for organizing a cryptocurrency exchanger.
Recently, the police of the Belarusian capital discovered and shut down a platform for trading and exchanging cryptocurrencies, according to the Investigative Committee of the Republic of. Law enforcers detained two men who were charged with illegal activities. During the search, investigators seized money, cryptocurrency and digital media;
Belarusian authorities have recently fined two residents of Minsk for shadow trafficking in cryptocurrencies.