🏴‍☠️Turkey 🇹🇷: financial intelligence agency to gain authority to freeze crypto accounts

🏴‍☠️Turkey 🇹🇷: financial intelligence agency to gain authority to freeze crypto accounts

A new bill aimed at combating crypto-related fraud is currently being drafted. If approved, the Ministry of Finance and Treasury (Masak) will be empowered to freeze suspicious accounts not only in banks, payment systems, and electronic money institutions, but also on cryptocurrency platforms.

▶️The financial watchdog will also be authorized to impose transaction limits, suspend mobile banking services, and blacklist crypto addresses linked to criminal activity.

▶️In addition, the Ministry of Finance is preparing new regulations requiring exchanges to collect detailed information on the origin and purpose of transactions and to introduce restrictions on stablecoin transfers.

▶️These measures are expected to be included in the 11th Judicial Reform Package, to be submitted to Parliament in the upcoming legislative term — meaning implementation would not occur before late 2026.

▶️Context: until June 2024, Turkey was listed on the FATF “grey list”, but was later removed after demonstrating “significant progress” in anti–money laundering and counterterrorism financing efforts. The new bill aims to strengthen that progress and improve international compliance.

#news #Asia #crypto #fraud

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