Turkey’s MASAK imposes 8M lira fine on Binance Turkey citing ‘non-compliance’
Crypto is in the news in Turkey for two reasons today. For starters, Turkey‘s President Recep Tayyip Erdoğan has confirmed the completion of a crypto-law draft. It will soon be shared with the Parliament for mainstream implementation across the country.
This is the latest state effort to counter the falling value of the Turkish lira. Now, what of the second development?
On the back of regulatory uncertainty, Turkish regulators have fined the local unit of popular cryptocurrency exchange Binance. It is accused of non-compliance with digital currency laws related to customer information and failure to comply with Anti-Money Laundering (AML) regulations.
The Financial Crimes Investigation Board (MASAK) has imposed a fine of 8 million lira (nearly
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