Turkish authorities fine local unit of crypto exchange Binance – Anadolu news agency

The representation of the cryptocurrency Binance Coin, the native token of the cryptocurrency exchange, is seen in this illustration taken on November 29, 2021. REUTERS / Dado Ruvic / Illustration

ISTANBUL, Dec 25 (Reuters) - Turkey's Financial Crimes Investigation Board (MASAK) fined local cryptocurrency exchange Binance 8 million lira ($ 751,314) for violations found during liability inspections, reported the Saturday the Anadolu state news agency.

Anadolu said the fine imposed on BN Teknoloji was the first of its kind after the authority assumed responsibility for overseeing crypto asset service providers in May. The news agency did not provide further details on the violations or inspections.

BN Teknoloji did not immediately respond to an emailed request for comment over the weekend, while MASAK could not be reached for comment.

($ 1 = 10.6480 rs)

Report by Ezgi Erkoyun; Edited by Pravin Char

Our Standards: The Thomson Reuters Trust Principles.