Turkey Approves Regulation on Crypto Market to Amp Up Oversight

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Turkish parliament approves legislation that oversees stricter oversight on crypto market, putting the handling of digital currencies under the radar of country’s market regulator, according to state-run Anadolu Agency.

Establishment of crypto platforms will be subjected to Capital Markets Board’s approval, and the board will have the right to temporarily suspend operations.

Crypto platforms’ financial supervision to be handled by independent audit firms on CMB’s list.

Investors will be exempted from indemnification rights.

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