Infamous chinese cryptocurrency exchange has informed Belarusian customers that its services will no longer be available in their country.
Belarus is one of only a few jurisdictions in Europe that have adopted crypto-friendly regulations. The number of fintech entities operating in the country has been growing since President Alexander Lukashenko’s Decree No. 8 entered into force in March.
Fortunately, other options are available. A number of online platforms offer exchange services in the post-Soviet space. Best Change, for example, lists dozens of verified online exchanges where crypto-enthusiasts can acquire and trade digital currencies, regardless of sanctions imposed by foreign powers or bans introduced by their own governments.
Many platforms support popular payment methods such as Qiwi and Yandex Money, but credit/debit card purchases are also possible. Belarusians can order prepaid Mastercards from Belarusbank, a leading commercial bank in the country. Its Carte Blanche card supports deposits in four currencies — Belarusian rubles, Russian rubles, euros and U.S. dollars. The fiat funds can then be used to buy digital money on any of the Best Change-listed platforms supporting such transactions. Peer-to-peer exchanges such as LocalBitcoins are also available to Belarusians who want to trade their coins.
Crexby, a platform recently launched by Belarusians in the U.S. as the first Belarusian crypto exchange, plans to introduce support for Belarusian ruble trades. The company is already in contact with government officials in Minsk to ensure compliance with local regulations.