@BOMBERuss 7 May 2021 more from that month

The Turkish Ministry of Finance will oblige cryptocurrency exchanges to report to the Financial Crimes Investigation Board (MASAK) on all cryptocurrency transactions worth more than 10,000 Turkish liras (about $1,200). This was stated by the Minister of Finance and Treasury of Turkey Lutfi Elvan (Lütfi Elvan). He explained that the Central Bank of Turkey does not consider cryptocurrencies as monetary assets, so the use of digital currencies to pay for goods and services is prohibited in the country. Regulators have tightened their attitude to the cryptocurrency industry in connection with the frequent cases of fraud. So, in April, Turkish law enforcement agencies arrested several employees of the Vebitcoin exchange. In the same month, the founder of the Turkish trading platform Thodex fled the country, taking all the assets, so the exchange was forced to stop working. The Turkish Ministry of Finance has given MASAK the authority to oversee the activities of cryptocurrency exchanges operating in the country. MASAK has already prepared a guide that includes the regulatory requirements that exchanges must comply with. In addition, penalties are provided for failure to report on cryptocurrency transactions. #CryptoTrading