Belarus Bans Foreign Crypto Exchanges, Tightens Crypto Controls

Belarus has blocked access to major crypto exchanges and banned trading on foreign platforms, requiring all crypto activity to occur on state-regulated sites. The move has created uncertainty for local traders.

Belarus has enacted a sweeping crackdown on cryptocurrency trading by blocking access to major international exchanges such as Bybit, OKX, and Bitget. The Ministry of Information ordered these platforms to be added to the national restricted access list, with enforcement carried out by the state telecom watchdog, BelGIE. Users attempting to access these sites are met with official notices citing government decisions under the Mass Media Act. The move follows a presidential decree banning individuals from buying or selling digital assets through foreign exchanges, requiring all crypto activity to occur on Belarus-regulated platforms. The government claims these measures aim to protect users and prevent illicit fund outflows, but has not provided detailed public reasoning, creating uncertainty among traders and businesses. The crackdown disrupts trading, withdrawals, and portfolio management, and has prompted some users to attempt VPN workarounds, though this carries risks of account suspension. The new rules also end peer-to-peer trading and restrict crypto operations to High Technology Park-registered companies. While Belarus tightens its grip on digital assets, Russia is taking a different approach, maintaining access to foreign platforms to facilitate trade amid sanctions.