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Sunday, August 1, 2021

Turkey will cover crypto service providers

Three weeks ago, Turkey barred cryptocurrency as a legitimate payment option, but now, the country took the decision to regulate crypto exchanges, which took the effect immediately. This is spurred by the Central Bank of the Republic of Turkey’s belief that digital assets put forward “significant risks.” 

According to a presidential decree published in Turkey’s Official Gazette, Turkey has recently added “crypto-asset service providers” to companies that are affected under anti-money laundering and terrorism funding law.

After Interpol issued a red notice for Thodex, authorities are still searching for Thodex chief executive and founder Faruk Fatik Ozer, who is claimed that had flown to Albania, before news of the problems surfaced, with $2 billion in investor’s money after the exchange flattered. 

On April 30, around 83 people that have been working with Thodex have been arrested, including Ozer’s brother, sister, and other senior employees of the company. 

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