Post
Topic
Board Bitcoin Discussion
Re: Belarus wants to ban bitcoin P2P transactions
by
YUriy1991
on 04/07/2023, 04:44:49 UTC
According to where I read it, Ministry of Foreign Affairs of the Republic of Belarus said thee is high crypto crime rate in P2P crypto transactions while exchange bitcoin with each other. 

https://cointelegraph.com/news/belarus-wants-to-ban-p2p-cryptocurrency-transactions

Quote
The authority cited a high cybercrime rate in Belarus, stating that local prosecutors have suppressed the activity of 27 citizens providing “illegal crypto exchange services” since January 2023. Their total illegal revenues amounted to nearly 22 million Belarusian rubles ($8.7 million).

I think that's an over-generalization and the fact is that not all P2P transactions involve criminal activity, because many users engage in legitimate and legal exchanges for various purposes and I think that the Prohibition can be seen as unduly limiting the privacy rights and individual rights of many people.

If a particular platform is banned, I think individuals can still find alternative ways/options to trade directly with each other, making it difficult for the authorities to enforce the ban effectively.

So if Belarusian wants to sell bitcoin which is an asset to themselves, they have to go through a centralized exchange approved by Belarus Hi-Tech Park (HTP).

Is this not too hash?

There is nothing that can stop P2P trading. It can only be reduced.

Instead, policymakers there should focus on implementing regulations and measures to curb objectionable activity while allowing legitimate and legal use cases to develop.