Turkey adds cryptocurrency exchanges to terror funding rules

A presidential decree published Saturday added cryptocurrency exchanges to a list of firms covered by Turkey’s terror financing and money laundering.

The move came after a ban on using cryptocurrencies for making payments, which was introduced in response to claims that such transactions are too risky, took effect in Turkey on Friday.

The presidential decree makes “crypto asset service providers” responsible for seeing their assets are not used illegally. The decree immediately went into force with its publication in Turkey’s Official Gazette.

Turkish authorities last month launched fraud investigations into two cryptocurrency exchanges, Thodex and Vebitcoin. Six suspects linked to the Thodex probe were jailed Friday pending trial.