By Alejandra Pousa, 07/05/21
MASAK, the Financial Crimes Investigation Board, has issued operation guidelines for the digital currencies market.
The almost 40 Turkish companies operating with cryptocurrencies will have to abide by the Guide for Crypto Asset Service Providers and will be held responsible, as follows:
- Verification of the identity of all subscribers
- Non subscribers: identity verification for transactions of more than TL 75,000 and for suspicious operations.
- Failure to comply with identity procedures is fined with at least 30,000 TL as well as 50,000 TL for failure to report suspicious movements.
- Non collection of files is penalized with up to 3 years jail time.
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