Belarusian fined $1 million for organizing a crypto exchange

The Supreme Judge of the Republic of Belarus rejected the appeal of a compatriot who was fined 2,700,000 Belarusian rubles ($996,000) for running a digital currency exchange. Initially, the verdict on a large fine was issued by the Economic Court of the city of Minsk. This is only an administrative fine and no other penalties are expected for the creation of a cryptocurrency exchanger.. However, the Belarusian “wanted a smaller fine.” “Citizen A. in January 2021, using a Telegram account, organized an illegal exchange of crypto-currencies, which is prohibited by law, and as a result of his activities received an income in the amount of 5,400,000 rubles. The citizen did not dispute the very fact of illegal activity,” local law enforcement officers assure. The organizer of the exchanger must give the state about half of the expected income, so the Supreme Court considered the sentence “legal and justified.” In November, it was reported that a resident of Minsk tried to buy cryptocurrency for $20,000, but the alleged seller suddenly ran away.. The Belarusian police soon detained the unlucky citizen and took away $19,000.