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❕NEWS Turkish government on the look out for large crypto transactions

AudraMiller

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There are many different definitions when it comes to large transactions and while some countries consider tens of thousands in dollars to be considered to be a large transaction, this is not the case for turkey. In fact according to the Turkish government, any crypto transaction that exceeds the amount of one thousand two hundred dollars (1200 USD) has to be reported to their financial crimes division for investigation and exchanges are obligated to do so. This could severely affect the crypto market in turkey.
 
the answer is that there might be alleged use of cryptocurrency out there in the country , so yes if the authorities has taken a decision user should report it , it will bring betterment for society and government should think of giving rewards to honest people as well in my opinion
 
That amount is just ridiculous to call large enough to warrant spying by the government. I guess the government just wants to indirectly make things difficult for crypto users in the country.
I would have to agree with you as well. In terms of cryptocurrency investments and trades, this amount is rather small considering that some people profit largely. In fact, this is not even 0.1BTC for trade.
 
I would have to agree with you as well. In terms of cryptocurrency investments and trades, this amount is rather small considering that some people profit largely. In fact, this is not even 0.1BTC for trade.
Exactly! Some people make profits in such an amount and even more just in a day trading. I guess the Turkish government wants control over the crypto markets.
 
Exactly! Some people make profits in such an amount and even more just in a day trading. I guess the Turkish government wants control over the crypto markets.
This is likely to be the case, and they are likely hoping to trace where funds came from for these large transactions and trades. It will be hard for traders, and traders may move to foreign exchanges to counter this.
 
They simply wants to regulate the large amount of funds that goes in and out in the country. Due to the fact, they they don't want series of money laundering scandal.
 
Although they could be doing so to reduce the effect of Fraud , so am not surprised on them placing so much regulations to prevent fraud I think
 
Well That's Good , That They Care And Want to protect their users , which is great to be honest actually in my opinion as it brings a sense of balance check
 

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