The Belarusian Ministry of Information announced on Thursday that access to crypto exchanges Bybit, OKX, Bitget, Gate, Bingx, and Weex has been blocked.
The ministry cited “inappropriate advertising” under Article 511 of the Law on Mass Media as the reason for restricting access to the global domains of several crypto exchanges.
At the time of publication, Cointelegraph had not yet received responses from the blocked exchanges.
Belarus maintains a close alliance with Russia. The domain restrictions were implemented on the same day Vladimir Chistyukhin, first deputy chairman at the Central Bank of Russia, stated in an interview with state-backed outlet RIA Novosti that the country “agreed to allow qualified investors” to enter the crypto market. This aligns with recent reports suggesting the institution is contemplating easing restrictions on cryptocurrencies due to extensive sanctions imposed on the country.
In late April, Russia revealed plans to permit crypto access exclusively to “super-qualified investors,” defined by wealth and income thresholds exceeding 100 million rubles ($1.2 million) or an annual income of at least 50 million rubles ($630,000), effectively restricting participation to high-net-worth individuals.
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Chistyukhin noted that a “crucial point that cannot be ignored” is that “cryptocurrencies are currently being used not only as investments but also as a means of cross-border payments.” His remarks reflected broader discussions about expanding crypto access in Russia in light of international sanctions:
“We certainly want to protect Russian retail investors as much as possible from transactions with such a risky asset. On the other hand, we understand that, under the current circumstances, some international payments can only be made using cryptocurrency.”
Chistyukhin mentioned that there are about one million qualified investors in Russia with access to crypto assets, indicating that investors would be evaluated on their cryptocurrency knowledge. He acknowledged that allowing non-qualified investors access to crypto is being considered, but stressed it would require extreme caution.
“Specifically, such investors could be granted access only to the most liquid instruments,” he stated.
He emphasized the necessity for “establishing strict restrictions and prohibitions” and mentioned that “it’s expected that cryptocurrency transactions will be conducted primarily through existing market participants, under existing licenses,” asserting that “anything outside this framework will be considered illegal.”
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