Turkish unit of crypto exchange Binance fined
The opportunities for Bitcoin in China are “boundless” as the Chinese, famous for their big saving, are now using the cryptocurrency to save and invest, according to the co-founder of country’s largest exchange. PHOTO: AFP
Turkey's Financial Crimes Investigation Board (MASAK) imposed an 8 million lira ($751,314) fine on the local unit of cryptocurrency exchange Binance over violations found during liability inspections, the Anadolu news agency said on Saturday.
The fine imposed on BN Teknoloji was the first of its kind after the authority took on responsibilities to oversee crypto asset service providers in May, the state-owned news agency said, without elaborating on the violations or inspections.
A Binance spokesperson said the company did not discuss publicly its communications with the authorities and regulators. MASAK could not be reached for comment at the weekend.