ISTANBUL, Dec 25 (Reuters) – Turkey’s Financial Crimes Investigation Board (MASAK) imposed an 8 million lira ($751,314) fine on the local unit of cryptocurrency exchange Binance over violations found during liability inspections, the Anadolu news agency said on Saturday.

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The fine imposed on BN Teknoloji was the first of its kind after the authority took on responsibilities to oversee crypto asset service providers in May, the state-owned news agency said, without elaborating on the violations or inspections.

A Binance spokesperson said the company did not discuss publicly its communications with the authorities and regulators.MASAK could not be reached for comment at the weekend.

($1 = 10.6480 liras) (Reporting by Ezgi Erkoyun; Editing by Pravin Char and Edmund Blair)

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