Minister Mehmet Şimşek issues a strong warning to cryptocurrency exchanges! “A new era has begun!”
The post Minister Mehmet Şimşek issues a strong warning to cryptocurrency exchanges! “A new era has begun!” appeared on BitcoinEthereumNews.com.
As is the case all over the world, regulatory efforts regarding cryptocurrencies continue in Türkiye. While much progress has been made in crypto regulations at this point, Treasury and Finance Minister Mehmet Şimşek issued warnings to cryptocurrency service providers and payment institutions. Speaking to AA, Mehmet Şimşek evaluated the work MASAK has carried out for crypto money service providers and payment institutions. Şimşek warned cryptocurrency service providers and payment institutions, stating that new strict rules introduced within the scope of increasing the security of the financial system and combating criminal proceeds must be followed. Referring to the regulations published in the Official Gazette on December 25, 2024 by MASAK to protect the financial system and combat crime revenues more effectively, Şimşek reminded crypto platforms and financial institutions of his previous warnings that they should not mediate the transfer of citizens’ personal and financial information to illegal betting sites. At this point, Minister Şimşek warned cryptocurrency platforms and organizations to comply with the strict regulations introduced with the legislative changes, stating that they will be closely monitoring and drawing attention to the fact that those who do not comply will face severe sanctions: “We are taking decisive steps to bring our country’s financial system into line with international standards. At this point, we will not allow those who want to abuse our financial system to open their eyes. “Crypto asset service providers are now required to fulfill their responsibilities as part of the financial system. Within the scope of the new regulations, crypto asset service providers are also included among the financial institutions subject to the same obligations as banks, brokerage firms and insurance companies in terms of MASAK legislation.” Stablecoin Regulation On The Way! Şimşek also stated that MASAK will make the necessary regulations in the field of stablecoins in…
Filed under: News - @ April 16, 2025 3:28 pm