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Belarus fines foreigner for running illegal cryptocurrency exchange

The Ministry of Internal Affairs of Belarus reported a new offense in the field of cryptocurrencies – a citizen of another country opened a digital asset exchange in Minsk and now the young man faces a fine.

A 22-year-old foreigner organized a cryptocurrency exchanger, specify in the department for combating cybercrime Frunzenski police department of Minsk.

In February and April, the young man spent 270,000 Belarusian rubles ($107,000) through his cryptocurrency wallet.

The detainee will not face criminal punishment, but he will be fined and the court will require him to return all the funds received to the state.

“It is established that a 22-year-old foreigner, who lived in Minsk, on specialized Internet sites offered services to buy and sell tokens and made transactions.

A protocol of administrative offense was drawn up against him for illegal entrepreneurial activity”, – said the police.

It was recently reported that the two young citizens of Minsk faced heavy fines and confiscation of significant assets – law enforcement officers said the men organized illegal currency exchange, banned in Belarus.