RATE Group | Turkey Prepares to Increase Oversight in the Crypto Space
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Turkey Prepares to Increase Oversight in the Crypto Space

06 Jan Turkey Prepares to Increase Oversight in the Crypto Space

Posted at 23:28h in Cryptocurrency News by

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Turkey Prepares to Increase Oversight in the Crypto Space

Turkish authorities, alarmed by the spread of cryptocurrencies in the country, are reportedly ramping up efforts to introduce greater oversight into the sector. Local media revealed that regulators are under pressure to increase supervision in 2020 because of the growing popularity of decentralized crypto assets among Turks.

Also read: Uzbekistan Bans Citizens From Buying Crypto, They Can Only Sell

Authorities Ask Market Watchdog to Develop Regulations

The Capital Markets Board of Turkey (CMB), the supervisory agency responsible for the securities market, is speeding up the development of mechanisms for stricter regulation of the cryptocurrency space. According to a report published by Hürriyet, a leading Turkish daily, the regulatory push comes in response to indicators showing that the share of cryptocurrency owners in Turkey is among the highest in the world.

Turkey Prepares to Increase Oversight in the Crypto Space

A figure quoted by the newspaper places the country at the top of such rankings. Turkey…

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