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Belarus Looks to Ban Peer-to-Peer Crypto Transactions to Reduce Fraud
The east European country is working on legislation to make it harder for fraudsters to get their hands on the proceeds of crime.
Updated Jul 3, 2023, 3:14 p.m. Published Jul 3, 2023, 3:14 p.m.
Belarus plans to issue legislation banning peer-to-peer (P2P) crypto transactions to reduce fraud, the Ministry of Internal Affairs said in a Sunday Telegram post.
Citizens of the east European country will be allowed to conduct crypto transactions only through exchanges based in the Belarus Hi-Tech Park (HTP) "for the sake of transparency and control."
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The ministry said it had identified 27 people who provide illegal crypto exchange services, which are used by fraudsters to get their hands on the proceeds of their activities.
"The introduction of a practice similar to the procedure for exchanging foreign currencies will make it impossible to withdraw money obtained through criminal means. In such conditions, it will simply be unprofitable for IT fraudsters to operate in Belarus," the statement read.
CoinDesk called the Belarus Ministry of Internal Affairs but did not get a response.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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