CRYPTOCURRENCY Internet

Turkey adds crypto firms to money laundering, terror financing rules

Turkey adds crypto firms to money laundering, terror financing rules.   | Photo Credit: AFP

(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click here to subscribe for free.)

Turkey added cryptocurrency trading platforms to the list of firms covered by anti-money laundering and terrorism financing regulation, it said in a presidential decree published early on Saturday.

The Official Gazette said the country's latest expansion of rules governing cryptocurrency transactions would take immediate effect and cover "crypto asset service providers", which would be liable to the existing regulations.

Last month Turkey's central bank banned the use of cryptoassets for payments on the grounds such transactions were risky. In the days that followed two Turkey-based cryptocurrency trading platforms were halted under separate investigations.

The probe into one of them, Thodex, led to the jailing on Thursday of six suspects including the siblings of its chief executive, Faruk Fatih Ozer, who Turkish authorities are seeking after he travelled to Albania.

Related Topics
cryptocurrenc
  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

Printable version | May 3, 2021 2:17:24 PM | https://www.thehindu.com/sci-tech/technology/internet/turkey-adds-crypto-firms-to-money-laundering/article34470187.ece

Next Story