Belarus Blocks Bybit And OKX, Brokers Face Deposit Delays

Tech

Belarus Blocks Bybit And OKX, Brokers Face Deposit Delays

• Belarus blocked several crypto exchange sites after a Ministry of Information order.
• Brokers using exchanges for deposits now face delays and tighter compliance checks.
• Users may rely on virtual private networks, raising fraud and account policy risk.

Belarus restricted access to several major global crypto exchanges this week, tightening control over how residents reach offshore trading rails. Reports said the disruption affected Bybit, OKX, Bitget, BingX, and other platforms named across different blocked-domain lists.

The immediate result is that Belarus-based access now depends on what local networks allow, not what exchanges offer.

The block arrived without advance notice, and Belarusian users reported sudden connection failures through domestic networks. That lack of warning forces brokers and payment providers with Belarus-linked flows to adjust processes fast, especially for time-sensitive deposits and withdrawals.

Why Belarus Tightened Access after Years of Crypto-Friendly Signals

Belarus once encouraged mining and crypto innovation. However, authorities now favor tighter oversight to curb illicit use and unmonitored transactions. Presidential Decree 367 already limited foreign exchange operations that involved direct fiat transfers.

Earlier guidance allowed crypto-to-crypto activity on existing accounts. However, the new block disrupts access entirely, which alters the environment for both retail users and brokers.

Additionally, the Ministry of Information stated that inappropriate promotional content appeared on several websites. The ministry said it enforced local rules on digital media.

Besides this claim, officials offered no timeline for possible reinstatement. Users reported that VPNs restored access, yet VPN use risked account restrictions due to exchange policies on jurisdiction masking.

Brokers Lose Crypto Deposit Rails and Face Higher Screening Pressure

Many forex and CFD brokers routed user deposits through large exchanges due to fast settlement and broad token support. Hence, the sudden block creates new friction in transaction flows.

Firms that served Belarusian residents through crypto channels may now encounter stalled deposits, broken workflows, and higher fraud exposure. Moreover, rerouting funds through P2P networks or smaller exchangers introduces new compliance risks.

EU restrictions also complicate the picture. European firms already avoid crypto services for Belarusian clients due to sanctions and wallet prohibitions.

Consequently, regulated brokers may now retreat from this market. This shift may drive Belarusian users toward offshore platforms with limited oversight.

Compliance Teams Face Heightened Duties

Brokers now need stronger controls around Belarus-linked payments. Many compliance teams are tightening source-of-fund checks and restricting crypto activity.

Additionally, risk officers are reviewing onboarding rules and funding channels to remain aligned with international sanctions frameworks. The new block also increases the likelihood that brokers will rely solely on fiat routes through neutral jurisdictions.