Turkish President Erdogan says that the cryptocurrency law is ready because the Binance crypto supervisory authority is fined 8 million lira - regulation
Turkish President Erdogan says that the cryptocurrency law is ready because the Binance crypto supervisory authority is fined 8 million lira - regulation
The Turkish President Recep Tayyip Erdoğan has reported that the country's cryptocurrency law was "finished" and "without delay" is presented to the parliament. In the meantime, the Turkish Financial Criminal Police Office (Masak), which supervises crypto exchange, has reported Binance Turkey due to violations that were found in liability inspections.
Turkish cryptocurrency law "is ready"
Turkish President Recep Tayyip Erdoğan said at a meeting with journalists on Friday that the country's cryptocurrency law was ready, reported ABC Gazetesi. While Erdogan provided information on crypto legislation, he said:
The law is finished, we will soon send it to the parliament.
According to Erdoğan's announcement, the state news agency Anadolu reported on Saturday that the Turkish investigation authority for financial crime (Masak) has occupied the Turkish stock exchange of Binance with a fine of 8 million Lira ($ 751,314) due to violations. Anadolu explained without further information:
The fine imposed against BN Teknoloji was the first of its kind after the authority took responsibility for the supervision of the provider of crypto asset services.
Binance Türkiye then published an explanation in which it was emphasized that they communicate and cooperated “openly” with regulatory and supervisory authorities. The stock exchange added that it "actively pursues the changing guidelines, rules and laws in this new area". In addition, Binance Turkey said that it would endeavor to "create a sustainable, healthy and safe ecosystem".
In September, President Erdoğan said that Turkey " in the war " with cryptocurrency. In addition, Binali Yıldırım, deputy chairman of the party for justice and development (AK party): "Unfortunately, the cryptocurrency also opens the door to complain. So it is something that needs serious control."
In May the Türkiye published some regulate for crypto trade in the office Cryptocurrency exchanges - thodex and vebitcoin - were examined for fraud. The Turkish central bank also forbidden The use of cryptocurrencies for payments.
What do you think of the statement of President Erdoğan and Binance with a fine of 8 million lira? Let us know in the comment area below.
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