Turkey adds cryptographic companies to terrorist financing regulations Business and Economic News

The presidential decree adds cryptocurrency exchanges to anti-money laundering and anti-terrorist financing rules.

Turkey has added cryptocurrency trading platforms to its list of anti-money laundering and terrorist financing regulations, according to a presidential decree.

The Official Gazette said on Saturday that the latest expansions in the country that regulate cryptocurrency transactions will take effect immediately and cover “cryptographic asset service providers” who would be subject to current regulations.

Last month, the Turkish central bank banned the use of cryptocurrencies to make payments on the grounds that such transactions were risky.

In the following days, two cryptocurrency-based trading platforms were stopped in different investigations – Thodex and Vebitcoin.

Six suspects Thodex probe they were jailed on Friday awaiting trial.

An investigation into Thodex, which handled hundreds of millions of dollars in daily trades, initially arrested 83 people after customers complained of not being able to access their funds.

Interpol has issued an arrest warrant for Faruk Fatih Ozer, the company’s chief executive, who is being sought by Turkish authorities after a trip to Albania.

People in Turkey are increasingly attracted to cryptocurrencies, the decline of the pound and the protection of double-digit inflation.