Turkey Now Covers Its Crypto Trading Platforms Under AML Regulations.
2021-05-01 | Big Bob
Turkey listed cryptocurrency trading platforms to the list of firms covered by AML [Anti-Money Laundering] and terrorism financing regulations,
each day after the country’s ban on
the utilization of digital assets for payments went into effect.
In line with an official presidential decree
published within the Official Gazette
earlier on Saturday, the country's latest move to rein in crypto assets went into effect immediately.
Turkey began tightening restrictions on the
cryptocurrency industry in mid-April with the aforementioned ban on cryptocurrencies as
a means of payment.
Prior to the ban, cryptocurrency use was soaring thanks
partially to the
lira facing significant outside selling pressure.
Since the ban was announced, two cryptocurrency exchanges have shut down their operations, and employees from each were detained
alongside allegations of missing funds.
Most, six people were jailed pending trial in
reference to the probe into
one among those cryptocurrency exchanges, Thodex, which recently went offline with its CEO going missing.
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