Turkey sets up cryptocurrency firms to money laundering rules
Turkey has sets up cryptocurrency trading platforms to the list of firms covered by anti-money laundering and terrorism financing regulation
According to a presidential decree, Turkey has sets up cryptocurrency trading platforms to the list of firms covered by anti-money laundering and terrorism financing regulation. As per an Official Gazette, the country's latest expansion for rules governing the cryptocurrency transactions would take immediate effect and cover "crypto asset service providers", which would be liable to the existing regulations.
Previous month, Turkey's central bank has banned the use of crypto assets for any payments on the grounds that such transactions were risky. Right after that, Turkey-based cryptocurrency trading platforms were stopped under separate investigations. During the probe, one of them, Thodex, led to the jail on Thursday out of 6 suspects including the siblings of its chief executive, Faruk Fatih Ozer, to whom Turkish authorities are chasing after he travelled to Albania.
