Financial Crimes Investigation Board (MASAK), some Turkish cryptocurrency exchanges were fined. Bitci Technology Inc., icrypex Informatics Inc., Paribu Teknoloji AŞ and Eliptik Yazılım ve Ticaret AŞ (BTC Turk) imposed an administrative fine of 18 million 800 thousand liras in total.
Crypto asset service providers were defined as liable as of May 1, 2021 under the Law No. 5549 on the Prevention of Laundering Proceeds of Crime.
First in Turkey: Binance was fined!
MASAK has imposed an administrative fine of 8 million TL, which is the upper limit, to Binance, one of the world’s largest cryptocurrency exchanges.
Fines from MASAK to 4 Turkish cryptocurrency exchanges!
Within the scope of obligations, MASAK’s website a guide has been published and the obligations of these companies; recognition of the customer, suspicious transaction reporting, information and document submission, continuous reporting, preservation and submission.
According to the news shared by Sputnik, MASAK, which carried out its inspections within the scope of the said provisions, regarding the violations of obligations in 2021;
An administrative fine of 4 million 250 thousand liras for Bitci Teknoloji AŞ, 4 million 100 thousand TL for Icrypex Bilişim AŞ, 8 million TL for Paribu Teknoloji AŞ, 2 million 450 thousand TL for BTC Türk, a total of 18 million 800 thousand TL. Done.
What do you think about this fine imposed on Turkish cryptocurrency exchanges?