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News Explorer — Belarus Seeks Ban on Peer-to-Peer Crypto Trades

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Jul 3, 11:58 am
Cointelegraph

Belarus Seeks Ban on Peer-to-Peer Crypto Trades

The Belarusian Ministry of Foreign Affairs is working on legal amendments to ban peer-to-peer (P2P) cryptocurrency transactions due to high cybercrime rates. The ministry aims to eliminate illicit activities such as cashing out stolen funds and transferring money for criminal schemes. Individuals will only be allowed to exchange crypto through registered exchanges, similar to the procedure for exchanging foreign currencies. This move has raised questions about the effectiveness of banning P2P cryptocurrency trading.

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