June 20 (Cointime) - Belarusian State Control Committee has initiated 70 criminal cases associated with illegal cryptocurrency transfers in 2022, according to the Committee's Chairman Vasily Gerasimov as reported by the local news agency BELTA.

Gerasimov stated that virtual assets facilitate unregulated capital movement and the decentralization of the crypto market and anonymity of transaction participants makes it impossible to create clear control algorithms.

However, the committee's developed technology allows them to identify schemes involving digital assets, and they have created a registry of virtual wallets used in illegal activities to track more transactions. Gerasimov emphasized the importance of developing Bitcoin exchanges working on the basis of high-tech parks, as payments going through them are transparent.