Cryptocurrency law comes to Parliament

While the rate of use of cryptocurrencies and the number of investors continues to increase in Turkey, it is stated that the draft law on cryptocurrencies is about to come to the parliament.

According to Yeni Şafak’s report, the draft is expected to be submitted to the Turkish Grand National Assembly before the end of the year. The proposal aims to both ensure financial stability and better protect those who invest in these assets. It is noted that the regulation includes articles that will prevent the use of the crypto industry for money laundering and terrorism financing. On the other hand, it is stated that social media influencers were also added to the offer.

Taxation of cryptocurrencies was also included in the 2024 Presidential Annual Program published in October. According to the program, studies on the definition of these assets in the Turkish legal system for the taxation of “digital virtual assets” would be completed.

Şimşek said, “The only remaining item to be removed from the gray list is crypto.”

On the other hand, Minister of Treasury and Finance Mehmet Şimşek said in the past weeks that there is only one condition left for Turkey to leave the gray list, and that is cryptocurrency regulation. Central Bank President Hafize Gaye Erkan also announced that they were working together with the Capital Markets Board (CMB) on the regulation of cryptocurrencies.

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