Crypto Association in Turkey Vows to Block Exchanges ‘Hunting Traders’
The head of the Crypto Industry Development Monitoring and Reporting Association, emrah Inanç, states that the number of people trading cryptocurrencies in Turkey could exceed 8 million by 2022, adding that the country is the 5th largest in the world in terms of crypto investments. is at the top position. Speaking to Anadolu Agency, the top executives of the established organization emphasize that transparency is important for the development of the crypto sector and want to focus efforts on solving problems with crypto exchanges before and wants to restore confidence in the industry and set it on course and aims to do so.
Inanc points out that in the past several exchanges are trying to attract Turkish clients and on this background he says that the lack of rules and regulatory authority has provided “uncomfortable results” and that there are certain concerns regarding the public sector. Challenges have also been accepted. According to indications he is facing charges and some exchanges have illegally blocked customer accounts for terrorism and money laundering. With this, he indicates that the association has agreed to transparently share information from time to time about the deficiencies that it is identifying with all concerned institutions and traders.
Also warned about dealing with offshore exchange platforms. He says that in order to stop these illegal practices and irregularities, he will take necessary steps to block the crypto currency exchanges and the same which are illegal transactions and which lead to such and cause harassment and harm to the citizens and they threaten the country’s economy, will definitely try to repeat them. They are requested or suggested by both individuals and organizations to send requests, suggestions and complaints by filling out a form posted on the group’s website. The country of Turkey has managed to become a hotspot for crypto exchanges over the past few years with the growing popularity of cryptocurrencies amidst high inflation and traders were also affected by some failures in the sector, one of the main reasons being the collapse of the exchange. Which happened in the middle of November. Turkey’s financial watchdog opened an investigation into the collapse of the major exchange because it had a platform. Several domestic exchanges have also been shut down such as Thodex, the country’s founder and top executives have been accused of a dubious exit scam and convicted of significant and serious counts of fraud and money laundering.A and WeBitcoin’s activities were investigated after the country’s central bank banned crypto payments, and CoinJoe also shut down.
