Belarus Bans Free Purchase and Sale of Cryptocurrency

Belarusian President Alexander Lukashenko signed Decree No. 367 "On the Circulation of Digital Signs (Tokens)", according to which residents of the country are prohibited from buying and selling cryptocurrency outside of Belarusian crypto exchanges.

The Presidential Administration emphasized that the ban on transactions with virtual assets is being introduced not only for individuals, but also for entrepreneurs.

The Belarusian authorities expect that the ban will contribute to the "development of a transparent and controlled" national cryptocurrency market, as well as "prevent the withdrawal of funds from the country" by fraudsters, stolen "by exchanging for cryptocurrency on foreign crypto exchanges".

Crypto exchanges registered in the Minsk High-Tech Park are considered legal in Belarus.