Turkey Adds Crypto Trading Platforms to List of Firms Covered by AML Regulations Few Days After Ban

As stated in a presidential decree published in the Official Gazette early on Saturday, Turkey’s latest move to rein in cryptocurrencies went into effect immediately The country after the ban on the use of crypto payments went into effect, has added cryptocurrency trading platforms to the list of firms covered by anti-money laundering (AML) and terrorism financing regulations. The country began tightening restrictions, banning the use of crypto payment in mid-April. However, crypto use for payment has been soaring before the ban due to the Turkish lira facing significant outside selling pressure.

Since the Turkish authorities ban crypto use for payment, about two crypto exchanges including Thodex have been shut down and employees from each were detained together with allegations of missing funds. A few days ago, Thodex CEO was declared wanted as he was allegedly fleeing to Albania, recently, about six persons linked to the exchange have been arrested and jailed pending trial in connection with the probe into one of those exchanges,