Turkey to give financial watchdog power to freeze crypto accounts
Turkey is reportedly taking a deeper dive into cryptocurrencies with proposed regulations that will enable it to exercise oversight on cryptocurrency traders and related entities.
The proposed reforms, according to sources who spoke to Bloomberg, would extend Masak’s anti-money laundering (AML) jurisdiction to include both crypto and fiat accounts.
The measures are intended to align with those developed by the Financial Action Task Force (FATF), an international body that creates standards addressing money laundering and the financing of terrorism.
The FATF, an intergovernmental watchdog of which Turkey is a member, removed Ankara from its “grey list” of countries subject to increased monitoring in June 2024, following…
