Turkey’s New Crypto Legislation: Can BTC and ETH Help Propel an Exit from FATF’s Grey List?

  • The proposed Turkey crypto regulation aims to limit illicit digital asset activities and money laundering in a bid to upgrade its position in FATF where it currently stands in the grey list.
  • The country has introduced a new bill focused on crypto asset regulation.
  • Highlighting the need for tighter regulation, the draft law emphasizes comprehensive requirements for platform management and operational standards.

Craft a concise and compelling meta description for the article.

New Turkey Crypto Bill Components

The proposed crypto regulation, presented by the AK Party, stipulates that cryptocurrency trading platforms and related companies must obtain licenses from Turkey’s Capital Markets Board. This move aims to upgrade Turkey’s standing with the Financial Action Task Force (FATF), a global financial watchdog.

FATF Meets Turkish Officials

According to the draft, the Capital Markets Board will be empowered to create secondary regulations and establish procedural guidelines for crypto asset service providers and transactions. This includes oversight of compliance with the new standards and enforcement actions against non-compliant entities.

Conclusion

This legislative push reflects Turkey’s commitment to enhancing its financial infrastructure and combating financial crimes, aiming for a better standing on the international financial stage.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Binance Launches Thena (THE) Perpetual Contract with Up to 75x Leverage on November 27

COINOTAG News reported on November 27 that Binance is...

Bitcoin Finds Support Above $93,000 Amidst Market Shifts and MicroStrategy’s Stock Impact

According to recent analysis by COINOTAG News, Bitcoin has...

Bitcoin ETFs Record $122.8 Million Net Outflow, Ethereum ETFs Gain $40.6 Million Inflow

Bitcoin ETFs Experience Net Outflow of $122.8 Million, While...

Bitcoin Funding Rate Rises Amid Market Corrections: A Strong Bullish Outlook for 2025

Matrixport</ has reported that the Bitcoin funding rate is...

Brazilian Congressman Proposes Strategic Sovereign Bitcoin Reserve (RESBit) to Boost Economic Resilience

COINOTAG News reported on November 27th that Brazilian congressman...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img