Saturday, December 10

Com lei Bitcoin pronta, Turquia multa Binance

Turkey saw its local monetary authorities issue a fine to Binance, considered the world’s largest brokerage by volume.

In recent months, Binance had been suffering retaliation from governments around the world, but after a few changes to please regulators, the pressure had eased.

What is striking is that in Turkey the value of the local currency lost great strength in the world market, suffering in the exchange rate. The price of Bitcoin in the country ended up reaching the value of 1 million in TRY in recent days, which drew the world’s attention to local problems.

The Turkish Lira has been suffering for years to keep its purchasing power stable, a situation that is far from happening.

Governo da Turquia multa a Binance

The Financial Crimes Investigation Council (MASAK) imposed a fine on brokerage Binance, according to information released by Reuters this Saturday (25).

According to the news agency, the fine imposed is 8 million Turkish lira, which gives US$ 751,000 in the conversion to the Dollar. This would have been applied after a routine inspection of the business that found violations during the liability inspection.

MASAK took over the inspection of the cryptocurrency sector in May 2021, this being the first fine it issues in the sector. What violations were found remains a mystery as the information has not been released and no MASAK members have been found to comment on the case.

Binance, on the other hand, said it does not reveal its discussions with authorities. Anyway, Binance Turkey is under pressure in the country that is preparing a bomb in the sector.

Can Turkey Ban Cryptocurrencies? war is being prepared

Unable to control the purchasing power of the local currency, Turkey saw a massive population flight to other, safer currencies. Easily operated and privately held, cryptocurrencies quickly emerged as an advantageous option for the population fleeing the local currency.

But the Turkish government, through President Recep Tayyip Erdoğan, has announced that it is preparing a war against cryptocurrencies, according to information revealed by Bloomberg HT. In a conversation with the country’s youth at an event, he said he was willing to fight to maintain the power of the Turkish Lira and should exert pressure against private digital currencies.

According to information, he would have already created a plan to regulate Bitcoin in 2022, with a project that will be presented soon, but that should not come with an unfriendly tone to the market.