After President Erdogan’s statement that “cryptocurrency law is ready, it will come to the Parliament in the coming days”, eyes turned to the new regulation.
While tax rates, definitions for cryptocurrencies, regulations regarding DeFi, DEX (decentralized exchanges) and CEXs (centralized exchanges) remain unclear, some allegations have been made.
We do not share the texts that are claimed to be the draft of the crypto money law, because it is not a healthy source. However, at this point, Attorney Sima Baktas shared some information, claiming that he saw the possible arrangement.
Baktas claimed that the version of the regulation that reached him includes regulations on the following issues;
“According to the final draft of the Crypto Law:
1- Crypto Money Providers have to get permission from CMB
2-Which cryptocurrencies will be listed or delisted will be under the control of the CMB.
3-Banks will provide crypto money custody services
4- Imprisonment and fine for unauthorized activity
5-Foreign Exchanges should also obtain permission for their activities (this article may have been removed)
6- Personal responsibility of Cryptocurrency Service Provider Board and Founders (such as the regulation to which banks are subject)
7- Personal liability of YK based on fault in cyber attack damages
8-Determination of collateral and limit in Cryptocurrency transactions
9-Giving a share of the annual income in addition to the commission income received
10-Investigation procedures specific to those responsible
11- There are general regulations such as compliance with the advertising regulation.
How it will end up is an unknown. It continues its activities without seeking permission from the Board until the secondary regulation enters into force. New platforms cannot be established and established platforms cannot start their activities until the date of entry into force of the secondary regulation.”
This was the last post Baktas shared about the bill, which he claimed to have seen personally.
It remains unclear whether the allegations are true or what provisions the regulation contains.