Turkish prosecutors have extended their investigation into illegal online betting and money laundering, leading to the freezing of over $544 million in cryptocurrency assets. These assets are connected to networks under scrutiny in the ongoing probe. The frozen funds were held through Tether, a major stablecoin issuer.
The operation reflects increased efforts by Turkish authorities to clamp down on illicit financial activities involving digital currencies. Tether’s cooperation in freezing the assets marks a significant step in addressing the use of cryptocurrencies in illegal betting schemes.
**Why this matters**
This development highlights the growing role of regulatory and law enforcement agencies in monitoring and controlling cryptocurrency transactions linked to criminal activities. It also underscores the challenges and responsibilities faced by crypto service providers in preventing misuse of their platforms.
Source: NewsData