Cryptocurrencies Are On The Agenda Of The Parliament In The New Legislative Year!

Parliament will start the new legislative year on the first day of October. In this period, there are many regulations before the TGNA to decide. Among these regulations are articles about cryptocurrencies. Here are the details…

Cryptocurrencies will be on the agenda of the Parliament

Cryptocurrencies have been on the government agenda for some time. Many state officials had signaled the future of regulation in this area. In this sense, steps are expected to be taken in the new period that started in October. In particular, it is on the agenda to take measures for crypto money companies so that investors do not become victims. In other words, it is among the expectations that a legislative proposal will be presented for cryptocurrencies to have a legal infrastructure in general.

While trying to increase the reliability of companies focused on cryptocurrencies, it is desired to allow international companies to establish companies in Turkey. In addition, attention is drawn to the efforts for these companies to obtain licenses from the Capital Markets Board. The necessity of providing competence in terms of technical infrastructure for companies to provide the required service is among the prominent measures. According to some sources in the mainstream media, regulation will be more like a framework law. Details will be regulated by regulations such as regulations.

What will be the other items on the agenda?

The AKP group in Parliament is also working on the “economy bag” proposal. Thus, they presented their plans to change the name of participation banks, known as interest-free banking. It is envisaged that they will be defined as “financial institutions”, as before 2005. Apart from this, we are likely to see efforts to remove the minimum wage from the tax bracket. The authorities want to cancel the amount deducted from the minimum wage due to the tax bracket.

In this context, a tax-free “resource transfer” formula draws attention. In addition, it is expected that a retirement arrangement will be made for the “Old Age at Retirement (EYT)”. Finally, it is planned to bring the “disinformation” proposal to the agenda again in the Turkish Grand National Assembly.

Turkey and cryptocurrencies: What happened before?

Cryptocurrencies have become attractive to Turks as the lira’s declines and rising inflation reduce the value of their savings. But the asset class faces tighter scrutiny over concerns about the dangers it may pose to the wider financial system. The enactment of landmark legislation, such as the requirement for capital on platforms, signaled tighter surveillance in a country rocked by the collapse of several cryptocurrency exchanges last year.

cryptocoin.com As we have reported, government officials began to closely monitor the cryptocurrency space, especially after Thodex ceased operations and the CEO of the platform fled abroad. Recently, Thodex CEO Faruk Fatih Özer was caught in Albania. This event caused many investors to not get their investment back right away and left a deep mark in Turkey’s crypto history.

Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!