in Turkey cryptocurrency While the work on the regulations continues at full speed Minister of Treasury and Finance Mehmet Şimşek He had said in his previous statements that the end had come.
Making new statements about cryptocurrency regulations, Mehmet Şimşek stated that they have reached the final stage of the technical studies of the legal regulation.
Speaking to Anadolu Agency, Şimşek said: “Our main goal with cryptocurrency regulation is to make this area safer and eliminate the risks that may arise.” said.
Stating that the legal regulations are not tax-oriented, Şimşek said that the taxation issue in cryptocurrencies will be regulated separately.
“Especially during and after the Covid-19 epidemic, there was intense interest in cryptocurrencies and trading platforms.
This interest brings with it various risks due to both abuses on some platforms and extreme volatility in prices.
Therefore, in our country, we are taking some steps to reduce the risks of parties transacting with cryptocurrencies, similar to international practices.
This is also one of the steps we need to take within the scope of FATF to get out of the gray list.
“With the regulations made by the Central Bank of the Republic of Turkey and MASAK on this issue, we have gained the opportunity to be informed about transactions and transfers on crypto trading platforms, but of course we need to do more than that.”
Stating that they follow international regulations and studies on cryptocurrencies, Minister Şimşek pointed out that there is no single regulation on this issue worldwide and that the USA and European countries follow different practices.
Finally, he stated that one of the main goals of the legal work on cryptocurrencies in our country is to regulate crypto platforms and the transactions taking place there. “While doing these studies, it was necessary to make some definitions. “Cryptocurrency, crypto wallet, cryptocurrency service provider, cryptocurrency custody service and cryptocurrency trading platform definitions were included in compliance with international regulations.” he said.
*This is not investment advice.
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