Turkey’s crypto bill ready for parliament, says Deputy Minister of Finance

Turkey’s crypto bill ready for parliament, says Deputy Minister of Finance


The Turkish Ministry of Treasury and Finance announced that a draft bill to establish a legal framework for crypto assets in the country is ready. 

Deputy Minister Şakir Ercan Gül announced that the crypto bill would be proposed to The Grand National Assembly of Turkey (TBMM), the unicameral Turkish legislature, at the start of the next legislative year in October 2021.

Noting that Turkey is using a free-floating exchange regime — i.e. the value of the lira is set by the forex market — Gül said the country needs similar but stricter regulation for crypto assets than Western Europe or the United States. 

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He stated that the finished draft aims to protect retail investors, prevent money laundering and reinforce supervision for crypto exchanges. 

The upcoming bill defines different types of crypto asset, Cointelegraph Turkey reported, and also designates the issuance and distribution of crypto assets, trading policies, and the conditions of crypto custodial services. 

The Turkish Capital Markets Board (SPK) will oversee crypto asset

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