Turkey's Finance Minister Mehmet Şimşek Warns Crypto Firms: No Tolerance for Financial Misuse Under New MASAK Mechanisms

Turkey's Minister of Treasury and Finance, Mehmet Şimşek, has issued a warning to cryptocurrency service providers and payment institutions, emphasizing the government's commitment to aligning the country's financial system with international standards. In a statement, Şimşek declared that the government will take decisive steps to prevent any misuse of the financial system, stating, "We will not allow those who seek to exploit our financial system." This warning comes alongside new mechanisms introduced by the Financial Crimes Investigation Board (MASAK) aimed at regulating the responsibilities of crypto asset service providers as integral parts of the financial system.