Belarus says it has shut down financing channel for protests through a Bitcoin exchange

The Department of Financial Investigations of the State Control Committee of Belarus has halted the operation of a cryptocurrency exchange that was among the channels financing protest activity within the country. The information is reported on the сайте ведомства.

The exchange operated anonymously. According to the committee, in 2020–2021 it financed foundations, human-rights centres and non-profit organisations supporting the protests.

According to the committee’s calculations, the crypto exchange’s activities led to Belarus losing more than 8 million rubles in taxes. A criminal case for tax evasion on a particularly large scale has been opened against five citizens.

During the investigation, more than $200,000 and €65,000 were seized, bank accounts were blocked with funds exceeding $370,000, and assets were seized.

Two suspects, including the organiser, live in EU countries. Three of the defendants who are in Belarus have been remanded in custody.

The checks conducted established that individuals, funds and organisations were illegally financed from abroad through this crypto-exchange. The facts of receiving and using funds for unlawful purposes will be subject to a legal assessment — the committee’s conclusion says.

Kuna rejected the request of the Belarusian Department of Financial Investigations, which demanded information about a non-profit organisation, that paid compensation in bitcoins.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.