Turkey to Inspect Cryptocurrency Exchanges as Part of Government Offensive Against Onlin…

Turkish authorities will soon be going after crypto exchanges operating in the country, local media reported. Although the trading platforms are not the prime target of a new push to increase budget receipts, they will be placed under close examination. The news comes as a military escalation with Syria and the coronavirus outbreak in the region increase demand for alternatives to the national fiat currency.

Also read: Australian Court Accepts Cryptocurrency Exchange Account as Security for Legal Costs

Draft Legislation Criminalizes Non-State Betting and Gambling

Turkey’s Financial Crimes Investigation Board (Masak) will conduct the checks as part of its offensive against what Turkish regulators regard as illegal betting and gambling in the virtual space. Online gaming, unless organized by the government, has been prohibited for over a decade, but many Turks continue to play on the internet.

In an interview with the state-run Anadolu Agency, Masak…