Lawyer Abide Gülel “In Turkey, 70 percent of black money is generated from illegal betting”

illegal betting

Lawyer Abide Gülel, co-founder of Lexcio, a crypto assets education and consultancy platform, says that 70 percent of black money in Turkey is obtained from illegal betting.

Participating in the Artificial Intelligence program with Serhat Ayan on Sputnik Radio, Av. Abide Gülel made important statements:

70 percent of black money is from illegal betting

“70 percent of the black money in Turkey comes from illegal betting. Not drugs, not income from another crime, but illegal betting! It is a huge percentage. And the vast majority of bettors use Tether, one of the cryptocurrencies. Because it is indexed to the dollar.

MASAK can see everything from Blockchain

MASAK experts said in one of our trainings: “I wish everyone could launder black money like this!” Because MASAK can track and see everything on the ‘blockchain’. With the regulations being made, some gaps will be closed and these people will not be allowed to breathe. I find the current Minister of Interior very successful in this sense.

A file can be opened against you

So far, they have done it, but they have all been followed up. This does not mean that those who have not been caught so far will not have a case opened against them later, or that they are not being investigated through secret files. As a lawyer, I can tell you that even what has been done today is being followed up and investigation files are coming from behind. The last thing you learn is when the MASAK report reaches the prosecutor’s office and the accounts are blocked, and this is a long process. Many people continue to say ‘we are doing it and we are not getting caught’, but the truth of the matter is not like that, it will be seen more clearly when the law comes out.

In summary, as I explained before, blockchain is a traceable system. Two years ago, I made a statement that Bitcoin can be tracked.

It is better for the law to come out late

The fact that the law is late makes it cover crime better. There is no comprehensive legal regulation on cryptocurrency in the world. There is none in Turkey either. The reason for this is that countries are waiting to see all the loopholes related to cryptocurrency.

In the past months, the European Union law MiCA has been approved, followed by other countries, including Turkey, will complete their regulations.”

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