The Turkish government has prepared a bill designed to implement new regulations for the country’s crypto space. The legislation, which will be filed in the parliament this fall, will introduce taxation for crypto holdings and specific capital requirements for companies operating with digital assets.
New Legislation to Regulate Turkey’s Crypto Market
Following in the footsteps of the West, Turkey is planning to soon put its crypto space in order. The work on a draft law aiming to strengthen investor protection, prevent dirty money laundering, and improve control over cryptocurrency trading has been completed, the Deputy Minister of Treasury and Finance Şakir Ercan Gül announced.
Quoted by the Sabah daily, Gül noted that the Turkish regulations will be similar to those that are being introduced in Western Europe and the United States, although a “little more stringent,” the official remarked, citing the country’s free-floating exchange rate regime as a factor. Speaking to the parliamentary Planning and Budget Committee, Gül