Turkey crypto regulation dey empower MASAK to freeze accounts
Turkey go increase MASAK power to freeze bank and crypto accounts. Dem draft bill wey go enter Grand National Assembly follow FATF rules to tight money laundering control. With the new rule, MASAK fit put transaction limits, stop mobile banking, close accounts for banks, e-money companies and crypto exchanges, plus blacklist wallets wey dey do bad bad things. Wetin dem dey mainly watch na “rented accounts” wey people dey use scam and illegal betting, wey make e hard to trace money. This new crypto law come after Ankara comot from FATF grey list for June 2024 and e resemble laws wey India, Vietnam and Thailand get. People wey dey market suppose dey watch regulatory changes well because better compliance fit affect trading volume and how exchanges dey run.
Bearish
Di big mas power MASAK get for freeze tins for Turkey crypto law, e dey increase risk and wahala for compliance. Short time, traders fit face strict account checking, limit for transactions and fit hold transactions, wey fit reduce market liquidity and trading volume. For long term, more AML control and blacklist wallet fit make traders no wan do speculative or high frequency trade, e go shift activity go offshore platform and increase operation cost for exchange. All these things fit make crypto market for inside country dey bearish till dem give clear regulation.