Turkey Moves to Tighten Crypto and Banking Oversight
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BTCCSquare news:
Turkey is advancing regulatory reforms to bolster its financial oversight framework. The Financial Crimes Investigation Board (MASAK) will gain expanded authority to freeze bank and crypto accounts, impose transaction limits, and blacklist digital wallets tied to illicit activities. These measures specifically target 'rented accounts' often exploited in online gambling and fraud schemes.
The initiative, part of Turkey's 11th judicial reform package, aligns with FATF standards to combat money laundering and illicit cryptocurrency flows. While the rules aim to curb abuse, they also signal growing institutional scrutiny of crypto assets in emerging markets.
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