Turkish regulator plans to speed up its Bitcoin and cryptocurrency supervision

The Turkish Regulatory Capital Markets Board (CMB) is planning to speed up its Bitcoin and cryptocurrency supervision in 2020. The move was mainly due to pressure from public agencies and local governments. It is reported that CMB may emphasize the monitoring, supervision and audit of Bitcoin and general cryptocurrencies. To date, Turkey has no fixed laws governing cryptocurrency use in Turkey. However, CMB has said it will strengthen supervision. The commission may take measures not only on cryptocurrencies, but also on cryptocurrency exchanges. Sources close to the CMB said cryptocurrencies are risky, but regulation will help control that risk.