IMPORTANT 💥
Crypto law passed by parliament:
Prison sentence for those who do not receive permission from CMB
The bill envisages obtaining permission from the CMB for crypto asset service providers to be established and start operating, and imprisonment and judicial fines for those who operate without permission. In addition, the chairman and members of the board of directors and other members of the crypto asset service provider who commit the crime of embezzlement are sentenced to imprisonment from 8 to 14 years and judicial fines. Those who carry out crypto asset service provider activities will have to submit a statement stating that they will make the necessary applications to obtain an operating permit within one month from the effective date or that they will take a liquidation decision within three months without damaging customer rights and interests. Crypto asset service providers located abroad, Turkey. will terminate its activities towards residents within three months following the date of entry into force of the law. 12 million people have accounts. 12 million people have balance accounts in the capital markets. Platforms that meet the conditions specified by the law will be authorized, and banks will also need to obtain a custody license.