A sole proprietor engaged in international transportation, and tax authorities noticed questionable aspects of his activities. He was ultimately penalized for USDT transactions outside of Belarus, News.Az reports citing Onliner.by.
The entrepreneur’s tax returns reportedly showed low income, and almost no receipts were deposited into his bank account, despite him being active in business and traveling abroad three to four times a month.
— During the investigation, multiple transactions and trades in USDT cryptocurrency were discovered. The total amount of these receipts is equivalent to almost 300,000 Belarusian rubles.
The entrepreneur reportedly defended himself by claiming he was outside of Belarus at the time of the transactions and that the cryptocurrency was not payment, but collateral that he intended to repay at a later date. However, the court found these arguments unfounded.
The tax authorities note that, under current legislation, cryptocurrency is not a legal means of payment in Belarus; only crypto platform operators—residents of the High-Tech Park—have the right to receive remuneration for goods and services in tokens. The entrepreneur did not have this status; he used a foreign platform. His actions were deemed equivalent to illegal entrepreneurial activity: he conducted operations similar to those of a cryptocurrency exchange operator without a license.
The Economic Court found the entrepreneur guilty under Part 3 of Article 13.3 of the Code of Administrative Offenses. He was fined 1,260 rubles, and a portion of his income from illegal entrepreneurial activity was confiscated. He will also be required to pay taxes on the concealed income.
News.Az
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