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Financial Crimes Investigation Board (MASAK) Presidency made a new update for cryptocurrency service providers.
Accordingly, MASAK published the updated suspicious transaction reporting guide specifically for cryptocurrency service providers.
According to the announcement and update on MASAK's website, within the scope of the Law on Prevention of Laundering Proceeds of Crime, liable parties are required to send suspicious transaction reports to MASAK.
It was stated that this update was made with the opinions and suggestions received from industry representatives.
In addition, reminding that obliged parties must report suspicious transactions to MASAK within the framework of the Law on Prevention of Laundering Proceeds of Crime, MASAK said: “With this update, the suspicious transaction reporting form has been simplified and adapted to existing financial technologies.” said.
“With the update, new suspicious transaction types have been added, taking into account the developing and changing crime typologies, and new suspicion categories have been added, making suspicion category selection mandatory.
Simultaneously with the updating of the Suspicious Transaction Reporting Guide and Form; Masak Online 1.0 system, which allows notification in electronic environment, has also been redesigned with current technology and offered to the service of Crypto Asset Service Providers.
In this context; “Crypto Asset Service Providers who fulfill the requirements pursuant to the Capital Markets Law No. 6362 and operate within this framework will send suspicious transaction notifications within the framework of the procedures and principles specified in this guide as of 26/07/2024.”
*This is not investment advice.