in Turkey cryptocurrency It seems that the end of the road has come in the “crypto regulation” that the community has been waiting for for a long time. While CMB supervision is expected to be brought to crypto companies with the new regulation in question, the details attract attention.
According to the news reported by NTV, the main topic at the Economy Coordination Board meeting was cryptocurrency regulation. While these regulations are expected to be submitted to the parliament in the coming days or weeks, the regulation is expected to primarily cover crypto companies. It is expected that the tax issue in cryptocurrencies will not be included among the initial expectations and recommendations.
Authorities who made statements after the Economy Coordination Board meeting announced that the work carried out under the leadership of the Ministry of Treasury and Cost has now reached the final stage.
As we reported as Koinfinans.com, Turkey aims to get out of the “grey list” taken by FATF (Financial Action Task Force) in 2021 after the latest regulations. According to officials, 39 of the 40 items submitted to Turkey have already been completed, but deficiencies in cryptocurrency regulations continue. It is expected that all deficiencies will be resolved with these latest regulations.
Türkiye is Preparing for Cryptocurrency Regulation: CMB Audit is Coming!
Following the regulations that are expected to be implemented as soon as possible, companies engaged in crypto trading activities will have to comply with certain rules. According to information provided by sources close to the sector, companies will be subject to the supervision of the Capital Markets Board following these regulations.
After the regulations, crypto exchanges will start to work like brokerage firms. However, these exchanges will also have capital requirements.
The cryptocurrency tax, which many citizens are curious about, may not have been included in the current regulatory discussions. Although there is no clear statement on this issue, names close to the industry have stated that they do not expect such a tax, at least in the first regulation.