Minister Mehmet Jimshek issues a strong warning to cryptocurrency exchanges! “A new era has begun!”

As in the world, regulatory efforts on cryptocurrencies continue at Türkiye.

While there have been many advances in crypto regulations at this point, the Ministry of Finance and Minister of Finance Mehmet Scheim have issued warnings to cryptocurrency service providers and payment agencies.

Speaking to AA, Mehmet’s Simshek evaluated the work Masak did for crypto money service providers and payment institutions.

Simshek warned cryptocurrency service providers and payment institutions, saying it should increase the security of the financial system and follow new strict rules introduced within the fight against criminal revenue.

Referring to regulations published in the official official gazette by MASAK on December 25, 2024, I reminded Shaimshek that in order to protect the financial system and fight criminal income more effectively, she deliberately warned of previous warnings that the transfer of citizens’ personal and financial information to illegal gambling locations should not be mediated.

At this point, Minister Simshek warned cryptocurrency platforms and organizations to comply with the strict regulations introduced in legislative changes, and said he would draw attention to the fact that those who do not comply will face serious sanctions.

“We are taking critical steps in line with international standards for our country’s financial system.

At this point, we will not allow anyone who wants to abuse our financial system to open their eyes.

“Cryptocurrency service providers are currently required to fulfill their responsibilities as part of the financial system. Within the scope of the new regulations, cryptocurrency service providers are also included in financial institutions subject to the same obligations as MASAK Congress.”

Stab coins are regulated along the way!

Simshek also said that Massak will implement necessary regulations in the stable rock area in a short time, stressing that transfers of cryptocurrencies that do not meet the obligation will not be permitted.

Simshek said, “Cryptocurrency service providers must prepare compliance programs and appoint compliance personnel. It is important to create risk management and customer transaction monitoring mechanisms, register them with electronic notification systems, and implement detailed customer identification measures. It is known as travel rules in international literature.

*This is not investment advice.