The Belarusian Ministry of Information has blocked access to crypto exchanges Bybit, OKX, Bitget, Gate, Bingx, and Weex, according to an announcement made on Thursday.
The ministry stated that access to the global domains of several crypto exchanges has been restricted, citing “inappropriate advertising” in accordance with Article 511 of the Law on Mass Media.
Cointelegraph reached out to the blocked exchanges for comment but had not received responses by the time of publication.
Context: Russia's Easing Stance on Crypto
Belarus is a close ally of Russia. This domain restriction occurs on the same day that Vladimir Chistyukhin, first deputy chairman at the Central Bank of Russia, informed state-backed outlet RIA Novosti that the bank had "agreed to allow qualified investors" into the crypto market. These remarks follow recent reports indicating that the institution was considering easing restrictions on cryptocurrencies in response to the extensive sanctions imposed on the country.
In late April, Russia disclosed plans to permit crypto access exclusively to “super-qualified investors.” This category was 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 limiting participation to high-net-worth individuals.
Russia's Central Bank Acknowledges Crypto's Utility
Chistyukhin emphasized that a "crucial point that cannot be ignored" is that "cryptocurrencies are currently being used not only as an investment but also as a means of cross-border payments." His comments align with recent statements advocating for broader crypto access in Russia as a response to 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 stated that approximately one million qualified investors in Russia currently have access to crypto assets. He also noted that investors would be assessed based on their knowledge of cryptocurrencies. He acknowledged that allowing non-qualified investors access to crypto is under consideration, but stressed that it would require extreme caution.
“Specifically, such investors could be granted access only to the most liquid instruments,” he said.
Chistyukhin highlighted the necessity for "establishing strict restrictions and prohibitions." He added that "it’s expected that cryptocurrency transactions will be conducted primarily through existing market participants, under existing licenses," and that "anything outside this framework will be considered illegal.“