Belarus unveils register for cryptocurrency wallets used in criminal activity

Belarus now maintains a register of cryptocurrency wallets used to course of felony proceeds, a senior authorities official in Minsk revealed.

The database is a part of a complete mechanism for the seizure of illicit digital funds launched forward of the nation’s subsequent evaluation by the FATF.

Belarus maintains forex wallets utilized by criminals

In response to the top of the nation’s fundamental supervisory physique, Belarusian authorities have arrange and up to date a particular register for digital forex wallets used to generate felony income.

Vasily Gerasimov, chairman of the State Management Committee (SCC), made the announcement throughout a plenary session of the Eurasian Group (EAG) on Combating Cash Laundering and Terrorist Financing.

Throughout the assembly in Minsk on Thursday, Gerasimov famous that Belarus is getting ready for an upcoming evaluation by the Monetary Motion Activity Power (FATF), the worldwide equal of the regional EFA.

He additional revealed that Belarusian regulators are introducing new mechanisms for monetary investigation and the speedy detection of felony monetary flows.

Rules for the taxation of transactions involving cryptocurrencies, amongst different measures guaranteeing transparency within the area of digital property, have already been adopted, Gerasimov identified.

The capital is internet hosting the EAG’s plenary week, which began on Monday. Greater than 300 representatives from authorities establishments, regulation enforcement businesses, monetary intelligence models and the non-public sector in Member States are taking part, accompanied by consultants from a dozen different nations.

The regional intergovernmental group presently contains 9 nations – Belarus, China, Kazakhstan, Kyrgyzstan, India, Russia, Tajikistan, Turkmenistan and Uzbekistan – and is an affiliate member of the FATF.

Vasily Gerasimov’s SCC is the Belarusian authorities physique that oversees the implementation of the nationwide price range, using state property and compliance with present legal guidelines.

Its function is just like that of the Russian Federal Ministry of Finance, and its obligations embody conducting audits, conducting investigations and initiating felony proceedings.

Minsk is updating its crypto laws

Belarus grew to become a pacesetter in its area in crypto regulation when it legalized transactions with “digital tokens” with the presidential decree “On the Growth of the Digital Financial system,” which got here into impact in 2018.

The doc regulated crypto-related actions akin to mining and buying and selling for the residents of the Belarus Hello-Tech Park (HTP). The hub falls beneath a particular authorized regime that provides a number of advantages to registered firms, primarily from the IT sector.

In September this yr, Belarusian President Alexander Lukashenko highlighted the rising significance of cryptocurrencies, particularly within the area of funds, and urged updating crypto laws.

In October, the Nationwide Financial institution of the Republic of Belarus (NBRB) introduced the creation of a working group to fight the unlawful circulation of cryptocurrencies, underlining its fundamental aim: stopping unauthorized cost transactions and the switch of stolen funds overseas.

Amid issues about capital flight, monetary authorities in Minsk had already banned non-public residents and particular person entrepreneurs from shopping for and promoting cash on non-Belarusian exchanges final yr, in September 2024.

In mid-November 2025, the NBRK proposed the creation of a unified framework for crypto regulation throughout the Eurasian Financial Union (EAEU), the only market uniting 5 former Soviet states. The EAEU is led by Russia, which lags behind Belarus in adopting crypto laws.

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