Cryptocurrencies became popular again after Bitcoin crossed the 50 thousand and then 60 and 65 thousand limits again. In Turkey, cryptocurrency law has been on the agenda for a long time. Judging by the latest details, the cryptocurrency law and cryptocurrency markets regulation will be coming to parliament very soon.
When will the cryptocurrency law and market regulation come to parliament?
According to TRT news, AKP Group Chairman Abdullah Güler announced that they are nearing the end of the cryptocurrency market regulation. Accordingly, the cryptocurrency law will come to the agenda of the Turkish Grand National Assembly after the Ramadan holiday. But what does Türkiye aim for with this cryptocurrency regulation?
In this sense, AKP Group Chairman Güler announced that they started working on the bill proposal after the studies carried out by the Ministry of Treasury and Finance. AKP Deputy Chairman of Information and Processing Technologies Ömer İleri and expert deputies made preparations for this cryptocurrency regulation.
For now, it is known that the government is preparing a market regulation at international standards with this law. Especially the cryptocurrency market stands out with the grievances it has caused users in recent years. In order to prevent these grievances, the Capital Markets Board (CMB) is on the agenda to license cryptocurrency exchanges operating in Turkey.
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It is expected that CMB will provide minimum security and financial conditions to cryptocurrency exchanges with this license. It is currently unclear whether there will be a cryptocurrency tax with this regulation. However, predictions are that an income tax at international standards will be introduced for cryptocurrency earnings.
The United States, Canada and the European Union countries have long had cryptocurrency laws and market regulations. Turkey, on the other hand, has been trying to make legal regulations since 2022, when cryptocurrencies started to rise again.
The regulation of cryptocurrency markets is especially important in terms of recording the informal economy. After Bitcoin reached the 67 thousand mark, cryptocurrency investments also peaked again. Risky meme coins, which have experienced great rises and falls, especially in the last week, have started to rise. Experts want investors to be careful, especially when investing in such cryptocurrencies. Do you think Türkiye is late in making legal regulations for cryptocurrencies? We are waiting your comments.