The Turkish government has updated the country’s cryptocurrency regulation following the banning of cryptocurrencies for payments and failing crypto exchanges.
Published in the Official Gazette on Saturday, the new rule adds crypto trading platforms to the list of entities covered by anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. The Official Gazette states that the country’s latest expansion of rules covering cryptocurrency transactions would take immediate effect. Crypto service providers must now comply with existing regulations. The government previously said that it plans to establish a central custodian bank to eliminate counterparty risk among other provisions.