Turkey Prepares New Bill Giving Masak More Power Over Crypto and Banking

Turkey's financial regulatory landscape is set for major transformation as lawmakers prepare groundbreaking legislation to significantly expand Masak's (Financial Crimes Investigation Board) authority over cryptocurrency exchanges, traditional banking institutions, and mobile payment services. This comprehensive regulatory overhaul aims to strengthen anti-money laundering (AML) compliance across Turkey's rapidly evolving digital finance ecosystem.

The proposed bill represents Turkey's most aggressive move yet to regulate cryptocurrency markets, including Bitcoin, Ethereum, and emerging DeFi protocols. Enhanced Masak powers will likely impact crypto trading volumes and blockchain-based financial services operating within Turkish borders. Market analysts anticipate increased compliance costs for cryptocurrency exchanges and potential short-term volatility in Turkish lira-denominated crypto trading pairs.

This regulatory expansion aligns with global trends toward stricter cryptocurrency oversight, following similar measures implemented across Europe and Asia. Turkish crypto investors and blockchain startups should prepare for enhanced KYC (Know Your Customer) requirements and transaction monitoring protocols. The legislation could position Turkey as a more regulated but potentially more stable cryptocurrency market, attracting institutional investors seeking compliant digital asset exposure while maintaining robust anti-money laundering safeguards.