According to NTV's news, the bill on the definition of cryptocurrencies will be presented to the Turkish Grand National Assembly today.
In the news, it was stated that AK Party Group Chairman Abdullah Güler will announce the details regarding the “Proposal Law on Amendments to the Capital Markets Law” at the press conference he will hold in the Turkish Grand National Assembly at 15.30 today.
The news also stated that the proposal will define crypto assets for the first time and transactions will be legally regulated.
In his previous statements, Minister of Treasury and Finance Mehmet Şimşek said that the legal definition of cryptocurrency assets will be made for the first time in the said bill.
The enactment of this proposal is of particular importance for Turkey to be removed from the FATF gray list.
FATF, which determines the compliance of world economies in the fight against financial crimes, included Turkey on the so-called gray list in 2021 because it fell behind in the fight against money laundering and the financing of terrorism. While Türkiye is found to be compatible with 39 of 40 standards, it aims to eliminate the last deficiency in this field with its crypto regulation.
Minister Şimşek said in a statement: “Fighting against financial crimes is among our main priorities. According to the report shared by FATF, our country is in compliance with 39 of 40 FATF standards. Within the scope of technical compliance, the only issue that continues to be prepared is the work on cryptocurrencies. Our necessary work on this issue has reached the final stage.” “As such, Turkey has become one of the most successful countries in technical harmonization. We are determined to continue our work in this context by increasing the efficiency we will provide in practice. We are making efforts to remove our country from the gray list.” said.
*This is not investment advice.