The post Masak to Gain Authority Over Crypto and Banking in Turkey appeared on BitcoinEthereumNews.com. Key Highlights Turkey prepares to give Masak new authority over banks, crypto, and mobile platforms Proposed bill includes freezing accounts and blocking mobile banking services Move expected to help Turkey meet global anti-money laundering standards A New Bill to Tackle Illegal Transactions Turkish authorities are preparing legislation that would grant the Financial Crimes Investigation Agency (Masak) expanded powers to fight illegal financial activities, according to sources cited by Bloomberg. Under the proposal, Masak would gain the authority to: Set transaction limits across platforms Block mobile banking services linked to crime Blacklist cryptocurrency addresses tied to illegal activities The initiative specifically targets so-called “rental” accounts—a scheme in which criminals pay users for access to their financial accounts to process betting or fraudulent transactions. The bill will be included in Turkey’s 11th judicial package, expected to be submitted to parliament during the new legislative year. Lawmakers may still revise or reject the provisions during review. Why Stronger Oversight Matters Bloomberg noted that Masak already collects and analyzes suspicious transaction data, refers cases to prosecutors, and coordinates Turkey’s compliance with international anti-money laundering (AML) standards. The new measures are designed to help Turkey meet the criteria set by the Financial Action Task Force (FATF), a global watchdog on money laundering and terrorist financing. If approved, the law would not only tighten oversight at home but also improve Turkey’s standing in global financial markets, reassuring international partners and investors. This follows earlier moves by the government. In June 2025, local media reported that Turkey had tightened rules for cryptocurrency withdrawals as part of its wider AML strategy. Source: https://coinpaper.com/11375/turkey-prepares-new-bill-giving-masak-more-power-over-crypto-and-bankingThe post Masak to Gain Authority Over Crypto and Banking in Turkey appeared on BitcoinEthereumNews.com. Key Highlights Turkey prepares to give Masak new authority over banks, crypto, and mobile platforms Proposed bill includes freezing accounts and blocking mobile banking services Move expected to help Turkey meet global anti-money laundering standards A New Bill to Tackle Illegal Transactions Turkish authorities are preparing legislation that would grant the Financial Crimes Investigation Agency (Masak) expanded powers to fight illegal financial activities, according to sources cited by Bloomberg. Under the proposal, Masak would gain the authority to: Set transaction limits across platforms Block mobile banking services linked to crime Blacklist cryptocurrency addresses tied to illegal activities The initiative specifically targets so-called “rental” accounts—a scheme in which criminals pay users for access to their financial accounts to process betting or fraudulent transactions. The bill will be included in Turkey’s 11th judicial package, expected to be submitted to parliament during the new legislative year. Lawmakers may still revise or reject the provisions during review. Why Stronger Oversight Matters Bloomberg noted that Masak already collects and analyzes suspicious transaction data, refers cases to prosecutors, and coordinates Turkey’s compliance with international anti-money laundering (AML) standards. The new measures are designed to help Turkey meet the criteria set by the Financial Action Task Force (FATF), a global watchdog on money laundering and terrorist financing. If approved, the law would not only tighten oversight at home but also improve Turkey’s standing in global financial markets, reassuring international partners and investors. This follows earlier moves by the government. In June 2025, local media reported that Turkey had tightened rules for cryptocurrency withdrawals as part of its wider AML strategy. Source: https://coinpaper.com/11375/turkey-prepares-new-bill-giving-masak-more-power-over-crypto-and-banking