What are the regulations for buying and selling cryptocurrency with fiat currency in Turkey?

3 answers

• May 07, 2022 · 3 years ago
  In Turkey, the regulations for buying and selling cryptocurrency with fiat currency are governed by the Capital Markets Board (CMB) and the Banking Regulation and Supervision Agency (BRSA). Individuals and businesses are required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. They must also register with the CMB and obtain the necessary licenses to operate as a cryptocurrency exchange or brokerage. It is important to note that the Turkish government has imposed restrictions on the use of cryptocurrencies for payment purposes, and they are not considered legal tender in the country.
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• May 07, 2022 · 3 years ago
  Buying and selling cryptocurrency with fiat currency in Turkey is subject to strict regulations. Individuals and businesses must adhere to KYC and AML procedures, which require providing identification documents and verifying the source of funds. Additionally, cryptocurrency exchanges and brokerages must obtain licenses from the CMB and comply with reporting requirements. It is advisable to consult legal experts or seek guidance from reputable exchanges to ensure compliance with the regulations.
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• May 07, 2022 · 3 years ago
  As an expert in the field, I can tell you that buying and selling cryptocurrency with fiat currency in Turkey is subject to regulations set by the CMB and BRSA. These regulations aim to prevent money laundering and protect investors. Individuals and businesses must go through a verification process and provide necessary documentation to ensure compliance with KYC and AML requirements. It is crucial to choose a reputable exchange that follows these regulations to safeguard your investments and ensure a secure trading environment. At BYDFi, we prioritize compliance and provide a user-friendly platform for cryptocurrency trading.
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