Belarus Plans to Prohibit P2P Cryptocurrency Trading

The post Belarus Plans to Prohibit P2P Cryptocurrency Trading appeared first on Coinpedia Fintech News

The Ministry of Internal Affairs in Belarus is drafting a bill to ban individual-to-individual cryptocurrency exchanges in an effort to combat the withdrawal of criminal funds. The proposed legislation would restrict such transactions to authorized HTP exchanges, aiming to enhance transparency and control. With 27 cases of illegal cryptocurrency exchanges discovered since the start of 2023, amounting to nearly $8.7 million, the ministry believes these limitations will deter fraudsters. In another development, Uzbekistan has established its first crypto-depository, marking a noteworthy step in the country’s adoption of cryptocurrencies.