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Turkey Prepares Sweeping Crypto Regulations, Grants MASAK Authority to Freeze Wallets
Turkey Prepares Sweeping Crypto Regulations, Grants MASAK Authority to Freeze Wallets
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BTCCSquare news:
Turkey is advancing stringent new regulations targeting illicit financial activities, with draft legislation empowering its Financial Crimes Investigation Board (MASAK) to freeze or shut down bank and cryptocurrency accounts linked to criminal operations. The proposed law, currently under parliamentary review, marks a significant step toward centralized oversight of the crypto market.
The measures would enable MASAK to restrict transactions, suspend mobile banking services, and blacklist crypto wallet addresses—effectively cutting off access to payment systems and exchanges for flagged accounts. The move aligns with Turkey's efforts to comply with FATF anti-money laundering standards amid broader economic challenges.
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