Treasury and Finance Minister Mehmet Simsek He made new statements about crypto currencies. Türkiye global crypto currency The ecosystem has an important player and millions of active investors. While the US and the EU determine global regulation standards, Turkey clarifies the regulations and legislation on crypto currencies. How will the last measures affect investors?
Mehmet Şimşek Crypto Money Description
In order to prevent crime revenues, AML and KYC standards are widely implemented globally. Platforms that serve in Türkiye have also completed their shortcomings in recent years and all companies that serve in the region are asked to comply with this. In addition, licenses have already been granted to those who comply with the designated standards and other platforms have been prevented from serving their customers in Türkiye.
Ministry, Crypto asset service providers (KVHS) will now ask customers to make a statement of at least 20 characters in transfer transactions. For example, you use the global stock market and transfer to the local licensed stock exchange or transfer from your defi wallet, then you will have to make a 20 -character explanation.
The Ministry, which aims to prevent income from crimes such as illegal betting and fraud through crypto currency exchanges, is activated for the first time in crypto currency withdrawal. The user who opens an account on a new stock exchange will not be able to transfer immediately.
Crypto Money Restrictions
Stablecoins Daily and monthly transfer limit comes for. Users will transfer 3 thousand daily and 50 thousand dollars per month. However, the name of the buyer, surname, residence address, birthplace, such as information is provided in full of platforms can be increased to double the limit. Will there be a flexibility for liquidity providers and investors who make big transactions? Treasury and Finance Minister Mehmet Şimşek said:
“For example, users who make transactions for liquidity provider, market construction or arbitrage between markets and documenting the source of the process funds within this scope can be realized under the responsibility and supervision of the relevant platforms without being subject to limits.”
Platforms that do not comply with the regulations will face sanctions up to the fines and beyond licensing cancellation.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
