Based

Online

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/masak-updates-reporting-standards" data-wpel-link="internal">MASAK Updates Reporting Standards</a><br></p>
<p style="text-align: justify"><a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">Significant developments</a> in cryptocurrency regulation have been announced by MASAK, aiming to enhance the scrutiny of suspicious transactions. Based on Law No. 5549, the newly introduced guidelines, which were unveiled on July 23, 2024, necessitate more detailed and comprehensive reporting protocols for entities within the sector.</p> 
<h2 id="what-changes-have-been-introduced">What Changes Have Been Introduced?</h2> 
<p style="text-align: justify">The refreshed Suspicious Transaction Reporting Guide incorporates feedback from industry representatives and aligns with the National Risk Assessment Report on Money Laundering and Terrorism Financing. Noteworthy updates include new reporting forms tailored for crypto assets, streamlined technology for report submissions, and the introduction of additional categories of suspicious transactions.</p> 
<h2 id="why-is-masak-online-2-0-important">Why Is MASAK Online 2.0 Important?</h2> 
<p style="text-align: justify">Accompanying the guideline update, the MASAK Online system has been upgraded to version 2.0. This reimagined system enhances access security, offers sector-specific flexibility, and simplifies the reporting process through an XML guide shared with stakeholders. These upgrades aim to make compliance more efficient and secure.</p> 
<h2 id="key-takeaways-for-service-providers">Key Takeaways for Service Providers</h2> 
<p style="text-align: justify">Service providers should note the following critical points:</p> 
<ul> 
 <li>New forms specific to crypto assets must be utilized.</li> 
 <li>Suspicious transaction categories have been expanded and must be selected.</li> 
 <li>Incorporation of identity verification and <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">financial</a> institution details is required.</li> 
 <li>Enhanced control points to ensure report quality.</li> 
</ul> 
<h2 id="implementation-date-and-sector-impact">Implementation Date and Sector Impact</h2> 
<p style="text-align: justify">The updated reporting requirements come into effect on July 26, 2024, for crypto asset service providers under the Capital Markets Law No. 6362. These measures represent a significant stride towards bolstering security and maintaining order within the cryptocurrency sector.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/masak-updates-reporting-standards" data-wpel-link="internal">MASAK Updates Reporting Standards</a></h5>

MASAK Updates Reporting Standards

目錄

BH NEWS

在 2024年7月25日發表的其他文章

Flowdesk’s Bold U.S. Bet During Crypto Winter Now Reaping Rewards

Rho Markets Hit by $7.5M Hack, Attackers Demand Admission of Oracle Error for Fund Return

Peter Schiff Cautions Bitcoin & Crypto Crash, July FOMC Meet To Turn Tide?

India Cracks Down on Darknet Drug Sales with Cryptocurrency Tracking

Ethereum Foundation Wallet Reactivates with 92K ETH Transfer After 7 Years

BlackRock Ethereum ETF Wallet Gets 76,669 ETH From Coinbase

訂閱免費電子報，每天收取加密貨幣最新動態！