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Turkish Finance Minister noted that work related to the crypto assets regulations is the final outstanding matter in order to achieve full compliance with FATF standards. Turkey’s finance minister has revealed the country’s intentions to introduce new crypto regulations, aiming to secure removal from the Financial Action Task Force’s “grey
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Turkey is reportedly drafting fresh regulations to govern crypto assets in an effort to convince the Financial Action Task Force (FATF) — an international organization responsible for combating financial crimes — to remove it from a “grey list” of nations that have not done enough to combat money laundering and
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“We will submit a law proposal on crypto-assets to the parliament as soon as possible,” Simsek said, according to CryptoX Turkey. “After that, there will be no reason for Turkey to stay in that grey list, if there are no other political considerations.” Source
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The FATF requires virtual asset service providers to implement the same preventive measures as financial institutions, including customer due diligence, record keeping and reporting of suspicious transactions, and adhere to its travel rule – which requires crypto service providers to collect and share information on transactions above a certain threshold. Source
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Sushi DAO proposed the creation of a legal defense fund March 21 in response to the “recent” subpoena of Sushi head Jared Grey and the decentralized autonomous organization (DAO) itself by the United States Securities and Exchange Commission (SEC). The DAO’s proposal did not provide details about the SEC subpoena. It
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In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans
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