Turkey continues to move forward according to the road map it has determined in regulating the cryptocurrency market. This issue was also discussed at the Economy Coordination Board meeting held today. The delegation, which came together under the chairmanship of Vice President Cevdet Yılmaz, discussed the last stage of the legislative work.
EKK discussed cryptocurrency regulations
cryptokoin.comAs you follow from , Turkey is in an important position for the crypto world. For this reason, the EU and the EU are carrying out studies in line with the developments in the USA regarding the regulation in Turkey. Today, the Economy Coordination Board (EKK) held a meeting. Relevant ministers and representatives of institutions and organizations attended the EKK meeting. Cryptocurrency regulations were also one of the main agenda items of the meeting.
Following the EKK meeting, the committee made a statement to inform the public. In the statement, it was stated that the current stage in the legislative studies regarding the cryptocurrency market was evaluated. In this context, “The issues to be included in the draft bill will be evaluated and with the regulation becoming law in the coming days, one of the necessary conditions for our country to be removed from the gray list will be met.” statements were included.
Türkiye to complete technical studies for crypto legislation
cryptokoin.com As we reported, Finance Minister Mehmet Şimşek announced in recent weeks that Turkey is in the “final stage” of completing technical studies to create cryptocurrency regulation. According to the draft proposals, crypto firms will need to obtain a license from the country’s capital markets regulator.
Turkey is working to get out of FATF’s gray list of countries. In this vein, it is rapidly drafting crypto laws as part of broader efforts. Mehmet Şimşek previously stated that the government is in the final stages of preparing legislative proposals for the sector. In this context, Mehmet Şimşek said in his statement to Anadolu Agency:
Our main goal with crypto asset regulation is to increase trust in this area and eliminate the risks that may arise.
According to Mehmet Şimşek, the planned legislation includes a broad definition of cryptocurrency assets as “intangible assets that can be created and stored electronically using distributed ledger technology or similar technology, distributed over digital networks, and capable of expressing value or rights.” Turkish Capital Markets Board (CMB) will be responsible for licensing crypto exchanges. Additionally, cryptocurrency exchanges will be subject to minimum operating conditions similar to financial institutions. Mehemt Şimşek also noted that the crypto law will be ready this month before the FATF evaluation in February.
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