Turkey introduces stricter crypto AML regulations – Cointelegraph
According to the new regulations, crypto exchanges in Turkey must now conduct customer due diligence, monitor transactions, and report any suspicious activities to MASAK. The guidelines also require exchanges to keep records of all transactions and customer information for at least 10 years.
The move comes as part of Turkey’s efforts to crack down on illicit activities and prevent money laundering through cryptocurrencies. The country has been stepping up its regulatory oversight of the crypto industry in recent months, with MASAK conducting inspections of several exchanges earlier this year.
Crypto exchanges in Turkey must now comply with the new regulations or face penalties, including fines and potential closure. The stricter AML rules are aimed at improving transparency and accountability in the crypto sector and protecting investors from fraud and financial crimes.
