The MASAK announcement has been published. Time conditions have been imposed on cryptocurrency withdrawal transactions.

➖The requirement for transaction description is also included in the announcement. (This practice had already started on exchanges approved by the CMB)

➖A withdrawal limit of $3,000 daily and $50,000 monthly has been imposed on stablecoins.

There are confusing provisions. For example; you have your coins on any exchange. You converted them to TRY and you want to withdraw to your bank... At this point, there seems to be no limit. The exchanges currently have their own limits in place.

MASAK has imposed these limits to prevent the laundering of criminal proceeds and the financing of terrorism. I hope it will be beneficial. If it will provide benefit in an important matter, complying with these conditions will be in everyone's interest.

At this point; we need to wait for detailed explanations from the platforms. We can obtain the most accurate information from CMB-approved cryptocurrency asset platforms...

BinanceTR will provide a detailed explanation on this matter.

#MASAK #cryptocurrency #Bitcoin