Turkey Adds Crypto Platforms to AML Rules

Turkey has added cryptocurrency trading platforms to its list of companies covered by anti-money laundering (AML) and terrorist financing regulations, Reuters reported.

A presidential decree expanded the rules early on Saturday (May 1), and a local report said the rules would take effect immediately and cover “crypto asset service providers” making them responsible for existing regulations, according to Reuters.

Turkey’s central bank last month banned the use of crypto for payments, citing concerns about the risk of transactions, Reuters reported.

In the days that followed, two Turkey-based crypto trading platforms were shut down for separate investigations, according to Reuters. The investigation of one of them, Thodex, resulted in the imprisonment of six suspects.

In other news, Berkshire Hathaway Vice President Charlie Munger called bitcoin “disgusting” and said it was “against the interests of civilization”. CNBC reported.

“I’m not in favor of a currency that’s so useful to kidnappers and extortionists and so on, and I also don’t like just transferring your extra billions of billions of dollars to someone who just invented one. new financial product from scratch, ”he said, via CNBC.

Berkshire Hathaway chief executive officer Warren Buffett, who had avoided a bitcoin question earlier, said he had no response to Munger’s comments, according to CNBC.

Recently, Fidelity Investments deployed Sherlock, a digital asset data and analytics solution, to bring together comprehensive data on digital assets, according to a Press release.

Sherlock provides streamlined access to “fundamental and technical data on development ecosystems, network activity, commerce, social media activity, news” and more.

Kevin Vora, vice president of product management for Loyalty center for applied technology (FCAT), said in the statement that the reason the company is moving forward with Sherlock is the increased interest in the crypto space, and investors said there is a need to find a data solution. simple.

“This is what we are introducing with Sherlock – robust and insightful datasets paired with highly intuitive tools to help clients make data-driven digital asset investment decisions,” he said. stated in the press release.

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