Bitcoin
$ 34,027
Ethereum
$ 2,013.1
Litecoin
$ 128.72
okex ads

Turkey Updates Cryptocurrency Regulation Amid Payments Ban and Collapsing Exchanges

The Turkish government has updated the country’s cryptocurrency regulation following the banning of cryptocurrencies for payments and failing crypto exchanges.

  • Published in the Official Gazette on Saturday, the new rule adds crypto trading platforms to the list of entities covered by anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) regulations.
  • The Official Gazette states that the country’s latest expansion of rules covering cryptocurrency transactions would take immediate effect. Crypto service providers must now comply with existing regulations.
  • The government previously said that it plans to establish a central custodian bank to eliminate counterparty risk among other provisions.

 

  • Turkey’s central bank recently banned the use of cryptocurrencies for payments. Following the ban, two Turkish cryptocurrency exchanges, Thodex and Vebitcoin, halted trading abruptly and are now being investigated for fraud.
  • Six people have been jailed in connection with the fraud investigation of the crypto exchange Thodex, whose CEO Faruk Fatih Ozer has fled the country. Turkish authorities and Interpol are looking for him in four countries.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

HODLC Set to Hit America With 3 Days Meta Jax CryptoJazz Festival
June 22, 2021By
Mt.Gox Victims to Vote on Draft Rehabilitation Plan
June 22, 2021By
Malta’s ‘Wild West’ Approach: Regulators Claim $70 Billion in Crypto Passed Through ‘Blockchain Island’
June 22, 2021By

Advertisement

Video Posts

In
Economic Inclusion And Social Impact Of 4IR
May 21, 20210
In
Flash Listing On Mandala Exchange
May 15, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin34,027 0.13 % 3.25 % 15.73 %
Ethereum2,013.1 0.13 % 2.13 % 21.40 %
Tether1.000 0.05 % 0.03 % 0.05 %
Binance Coin287.82 0.32 % 0.41 % 22.00 %
Cardano1.240 0.09 % 0.68 % 20.68 %
XRP0.6086 0.58 % 4.11 % 30.25 %
Dogecoin0.2086 0.80 % 2.14 % 35.14 %
USD Coin1.000 0.32 % 0.12 % 0.19 %
Polkadot16.23 0.08 % 1.42 % 32.70 %
Binance USD1.010 0.08 % 0.22 % 0.21 %

You have not selected any currencies to display