Turkey Expands Masak Powers for Crypto Oversight

Turkey is significantly strengthening its cryptocurrency regulatory framework by expanding the powers of Masak, the country's Financial Crimes Investigation Board. The proposed legislation, part of Turkey's 11th judicial reform package awaiting parliamentary approval, would grant Masak unprecedented authority over digital assets and blockchain transactions.

Under the new regulations, Masak would gain sweeping powers to freeze both traditional bank accounts and cryptocurrency wallets, implement transaction limits on Bitcoin and other digital currencies, and maintain blacklists of crypto addresses connected to illegal activities. This regulatory expansion represents Turkey's most aggressive approach to cryptocurrency oversight yet, potentially impacting Bitcoin trading, DeFi protocols, and blockchain-based financial services within the country.

The enhanced crypto regulations could significantly influence Turkey's digital asset market, as traders and cryptocurrency exchanges may face stricter compliance requirements. With Masak's expanded jurisdiction over blockchain transactions, the move signals Turkey's commitment to combating cryptocurrency-related financial crimes while establishing clearer regulatory boundaries for legitimate crypto operations. This development follows global trends toward increased cryptocurrency regulation and anti-money laundering measures in digital asset markets.