Turkey Advances Crypto Oversight with New Regulatory Framework
by aria-crypto.com
March 14, 2025 at 03:46
Turkey Advances Crypto Oversight with New Regulatory Framework
Turkey has recently imposed stringent regulations on the cryptocurrency market, mandating comprehensive oversight by the Capital Markets Board (CMB). As part of efforts to address FATF gray list concerns, these new measures require crypto asset service providers (CASPs) to fulfill specific pre-operation obligations and insure user-held digital assets. This regulatory shift follows statements from Turkish Finance Minister Mehmet Simsek about the CMB's critical role in supervising crypto firms. Initially, the lack of such regulations had facilitated illegal activities such as money laundering through cryptocurrencies, contributing to a surge in crypto-related scams within the country. Founders of CASPs must now exhibit financial integrity and maintain a clean legal record; failure to meet these standards can lead to CMB denying operation licenses. Additionally, CASPs are obliged to meet determined capital requirements, paid entirely in cash to ensure financial stability. The CMB holds the authority to enforce these regulations strictly, including the power to revoke operating permits or disqualify individuals from crypto operations for any misconduct. This development signifies a significant step in Turkey's efforts to create a safer and more regulated crypto environment.
Read more
>> UK Bitcoin Scandal: NCA Officer Charged with Multi-million Dollar Theft
A UK National Crime Agency (NCA) officer, Paul Chowles, has been charged with the theft of 50 Bitcoin in 2017, which was valued at approximately $77,000 at the time but now worth around $4 million. The 42-year-...
>> US Political Ties Intensify as Trump Family Negotiates Stake in Binance US
The Trump family is reportedly negotiating a stake in the American division of cryptocurrency exchange Binance, according to a recent Wall Street Journal report. These negotiations come as Binance seeks to rees...
>> Russia's Strategic Shift: Leveraging Bitcoin and Ethereum for Oil Trades Amid Sanctions
Russia has adopted the use of Bitcoin and Ethereum to conduct oil trades with BRICS nations, particularly China and India, to circumvent Western sanctions. This strategic move is part of a broader effort by Rus...
>> US Court Bolsters 3AC's Billion-Dollar Bitcoin Claim Against FTX
A significant court ruling has authorized Three Arrows Capital (3AC) to increase their claim against FTX from $120 million to a staggering $1.53 billion. This decision by a Delaware bankruptcy court has dealt ...
>> Navigating Sanctions: Russia's Growing Embrace of Crypto in Oil Trading
Russia is increasingly using cryptocurrencies like Bitcoin, Ethereum, and Tether to facilitate its oil trade with China and India, thereby circumventing Western sanctions. The shift towards digital currencies, ...
>> Coinbase Explores Bitcoin Market Trends with New Memecoin Roadmap
Coinbase has recently included Doginme (DOGINME) on its asset roadmap, indicating a move towards supporting more memecoins amidst growing interest. DOGINME, a token born from lighthearted exchanges on the decen...
>> Bitcoin and Crypto Trading Blossom on Telegram’s Platform
Telegram’s self-custodial wallet, hosted on the TON blockchain, not only supports trading but now also includes yield-earning features for its vast user base exceeding 100 million. Initially focusing on Toncoin...
>> Coinbase Boosts Interest in Ethereum Network with New Altcoin Inclusions
Coinbase, a leading US-based cryptocurrency exchange, has recently expanded its Ethereum-based digital offerings by adding two altcoins: Maple Syrup (SYRUP) and Aethir (ATH). The announcement was made on the s...
>> IMF and El Salvador's Bitcoin Dilemma: Stability in Question Amid Defiant Purchases
El Salvador, one of the largest Bitcoin holders globally, has been warned by the ARENA opposition party about potential IMF scrutiny due to ongoing Bitcoin purchases by the government. Despite a $1.4 billion IM...
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal