{"id":12523,"date":"2022-05-29T17:58:29","date_gmt":"2022-05-29T17:58:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/belarus-has-seized-millions-of-dollars-in-crypto-chief-investigator-claims-bitcoin-news\/"},"modified":"2022-05-29T17:58:29","modified_gmt":"2022-05-29T17:58:29","slug":"belarus-has-seized-millions-of-dollars-in-crypto-chief-investigator-claims-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/belarus-has-seized-millions-of-dollars-in-crypto-chief-investigator-claims-bitcoin-news\/","title":{"rendered":"Belarus Has Seized Millions of Dollars in Crypto, Chief Investigator Claims \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Authorities in Belarus have mastered the seizure of cryptocurrencies, the head of the country\u2019s Investigative Committee revealed in a recent interview. The high-ranking law enforcement official claims the state has already confiscated crypto assets worth millions of dollars. <\/strong><\/p>\n

Companies Allegedly Help Belarus Government With Crypto Seizure<\/h2>\n

Belarus had to deal with the challenge of how to seize cryptocurrencies when they were first used in drug trade and later economic crimes, Dmitry Gora, who heads the nation\u2019s Investigative Committee, told the state-run ONT<\/a> channel. He added that law enforcement agencies had to find a way to confiscate such digital assets and have already seized crypto worth hundreds of millions of Belarusian rubles (millions of U.S. dollars).<\/p>\n

\"Belarus
Dmitry Gora. Source: ONT<\/a><\/figcaption><\/figure>\n

The former Soviet republic, a close ally of Russia, legalized various crypto activities with a presidential decree which went into force in May 2018. The document introduced tax breaks and other incentives for crypto businesses operating as residents of the Hi-Tech Park (HTP<\/a>) in Minsk within efforts to develop the country\u2019s digital economy.<\/p>\n

In March 2021, President Alexander Lukashenko hinted at a possible tightening of the country\u2019s crypto regulations, referring to China\u2019s example. However, HTP officials later insisted<\/a> Belarusian authorities had no intention to adopt stricter rules for the industry. What\u2019s more, the finance ministry proposed amendments to allow<\/a> investment funds to acquire digital assets.<\/p>\n

In April of this year, the Ministry of Justice adopted<\/a> a legal procedure allowing the seizure of crypto funds as part of enforcement proceedings. It implements another decree by Lukashenko from February who ordered<\/a> the establishment of a special register for crypto wallets used for illicit purposes.<\/p>\n

Dmitry Gora went on to quote his \u201cadvanced subordinates,\u201d saying that cryptocurrency was just \u201cdigital trash.\u201d \u201cBased on this, I set the task: our state needs money to compensate for the damage caused. Let\u2019s think about how to make money out of trash. I will not go into details, but we have learned how to do it\u2026 There are mechanisms that allow us to deal with these issues, and quite successfully,\u201d he elaborated.<\/p>\n

The law enforcement executive pointed out that both government agencies and commercial organizations are involved in the process. As a result, \u201cthe amounts that are already in the form of good, normal money are on the accounts of the Investigative Committee,\u201d Gora stated.<\/p>\n

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Alexander Lukashenko<\/a>, Belarus<\/a>, belarusian<\/a>, confiscation<\/a>, Crypto<\/a>, crypto assets<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Decree<\/a>, decrees<\/a>, htp<\/a>, Investigative Committee<\/a>, investigator<\/a>, Law Enforcement<\/a>, Lukashenko<\/a>, President<\/a>, Regulation<\/a>, Regulations<\/a>, Seizure<\/a><\/div>\n<\/div>\n

Do you expect Belarus to change its policies regarding cryptocurrencies? Let us know in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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