"Crypto Asset Service Providers" Included In The Regulation

In the current issue of the Official Gazette, "crypto asset service providers" have also been added to the regulation.

"Crypto asset service providers" have been included in the regulation. With the regulation published in the current issue of the Official Gazette, "crypto asset service providers" have also been added to the "Obliged Parties" section of the Regulation on Measures to Prevent Money Laundering and Terrorist Financing. In addition, "savings finance companies" were added to the regulation. There are currently many types of companies, from banks to sports clubs, notaries to asset management companies, as well as crypto asset service providers. The regulation, which has been enacted since the date of publication, now points out that businesses such as cryptocurrency exchanges will also be liable under the Law on Prevention of Laundering Proceeds of Crime. In Turkey, regulatory initiatives for cryptocurrencies and cryptocurrency exchanges have also accelerated recently. Especially, the closure of several stock exchanges and leaving many victims behind caused the regulations that were expected to be implemented for a while to gain momentum. In the past weeks, the use of cryptocurrencies in payments has been banned with a decision taken at midnight, while arms have been rolled up for a comprehensive regulation on cryptocurrency exchanges. CBRT Governor Şahap Kavcıoğlu stated that the regulations on this issue will reach a point in two weeks last week.