How exactly would they stop it?

https://www.coindesk.com/policy/2023/07/03/belarus-looks-to-ban-peer-to-peer-crypto-transactions-to-reduce-fraud/

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The authorities are going to make a serious wish this time that #bitcoin stops in its tracks.

They identified the people committing and facilitating the fraud but they’re going to try to prohibit the protocol instead. Makes perfect sense in fiat land.

They don’t really care about the fraud. They just want a excuse to control the protocol