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Turkey appears to be looking at ways to tightens its regulation of the crypto market.

The Turkish Ministry of Treasury and Finance took to Twitter to express concerns about cryptos and to announce collaborative work on the topic with several local regulators on Monday, Cointelegraph reports.

The ministry is working with the central bank alongside two financial regulatory agencies: “We share the rising concerns about crypto with the rest of the world. The developments [on crypto around the world] and the state of crypto in Turkey are closely monitored by our ministry. We are collaborating with the Central Bank, Banking Regulation and Supervision Agency, and Capital Markets Board within this frame under the presidency of Deputy Minister.”