The Belarusian Ministry of Information has blocked access to crypto exchanges Bybit, OKX, Bitget, Gate, Bingx and Weex, it was announced on Thursday.
According to a government statement, the ministry has restricted access to the global domains of several crypto exchanges, citing “inappropriate advertising” under Article 511 of the Mass Media Act.
Cointelegraph reached out to the blocked exchanges but did not receive a response at the time of publication.
Belarus is a close ally of Russia on the world stage. The domain restriction comes on the same day that Vladimir Chistyukhin, the first deputy governor of Russia’s central bank, told state agency RIA Novosti that it “agreed to allow qualified investors” into the crypto market. The remarks follow recent reports that the institution was considering easing restrictions on cryptocurrencies in response to extensive sanctions imposed on the country.
In late April, Russia announced plans to grant crypto access only to “super-qualified investors,” defined by wealth and income thresholds of over 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.
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Russia’s central bank sees the utility of cryptocurrency
Chistyukhin said that “the key point that cannot be ignored” is that “cryptocurrencies are currently used not only as an investment, but also as a means of cross-border payment.” His comments echoed recent statements about allowing broader crypto access in Russia in response to international sanctions:
“We certainly want to protect Russian small investors as much as possible from transactions with such risky assets. On the other hand, we understand that, under the current circumstances, some international payments can only be made using cryptocurrency.”
Chistyukhin said that there are currently about one million qualified investors who can access crypto assets in Russia, noting that investors will also be evaluated based on their knowledge of cryptocurrencies. He admitted that allowing unqualified investors to access crypto is on the table, but said it would require extreme caution.
“Specifically, such investors could be given access to only the most liquid instruments,” he said.
Chistyukhin highlighted the need to “establish strict restrictions and prohibitions” and said that “cryptocurrency transactions are expected to be conducted primarily through existing market participants, under existing licenses,” adding that “anything outside this framework will be considered illegal.”
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