It has been revealed that Binance Turkey (BN Teknoloji company), the Turkey arm of Binance, the largest Bitcoin and altcoin exchange by transaction volume, has been fined 8 million lira by the Financial Crimes Investigation Board (MASAK). It is stated that this decision is the first penal sanction in the field of crypto money. cryptocoin.com We are giving the details as…
8 million lira fine from MASAK for Binance
Reportedly, the Financial Crimes Investigation Board (MASAK) fined the Turkish branch of Binance, the world’s largest cryptocurrency exchange, worth 8 million liras. This 8 million lira fine seems to have emerged when problems were observed in the liability control of MASAK. It should also be noted that this amount is the upper limit for violations detected during the inspection.
The decision in question is the first criminal sanction in the field of cryptocurrencies. As we have previously reported, companies that provide services in the field of crypto money in Turkey were added to MASAK liabilities on 1 May. Within the scope of the regulation published in the Official Gazette, MASAK published a guide for companies that provide crypto money service. Accordingly, crypto service providers had to pay attention to factors such as customer recognition, suspicious transaction reporting, and providing information and documents. Meanwhile, President Recep Tayyip Erdoğan announced that the regulation on the crypto money field would be submitted to the CBRT, and some stated that this law will also include crypto money data.
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