Belarusian fines of $ 1 million for illegal crypto trade-
Belarusian fines of $ 1 million for illegal crypto trade-
A Belarusian citizen has to pay a high fine if he illegally organizes the exchange of cryptocurrencies on the Internet. The country's law enforcement authorities, in which certain crypto activities are legal, plan no other penalties than the administrative measure.
cryptocurrency dealer tries to score a fine from Belarusian court
The Supreme Court of the Republic of Belarus rejected the appeal of a Belarusian against a judgment of a lower authority in which it was convicted of paying 2,700,000 Belarusian rubles (around $ 1 million) to the state for trade in digital assets outside the law.
The man who is only identified with the initial letter "A" is accused of setting up an online cryptocurrency exchange with the Telegram Messenger in January 2021. He is said to have achieved 5,400,000 rubles as income from his illegal activities.
according to A Post according to the Belarusian Ministry of Taxes and Taxes, quoted by the crypto-news agency BITS.Media, the investigators were able to trace its transactions and the collected evidence of the judiciary present. The fine was imposed by the Minsk business court.
The department believes that the decision to confiscate half of his income is justice because the court could have ordered that it separates from the entire sum. Although the dealer did not contest the illegality of his business, he was dissatisfied with the amount of the fine and decided to submit a complaint to the Supreme Court that confirmed the original judgment.
Belarus legalizes crypto-related activities such as mining and trade with a decree signed in 2018 in 2018 If they are carried out by companies that are registered under the special legal and tax regime of Belarus Hi-Tech Park.
However, the government has investigated illegal operations with cryptocurrencies. In May last year, the head of the investigation committee revealed that the country's law enforcement authorities had been able to do seize digital assets in connection with crimes worth millions of US dollars.
In August the Belarusian authorities an international arrest warrant against the owner of the owner "Largest crypto exchanger" in the country, Bitok.me. After two years of investigation against Vladislav Kuchinsky and three of his accomplices, he was accused of large -scale tax evasion.
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