Crypto Regulations in Turkey

The Turkish government is likely to introduce cryptocurrency-related legislation before the end of 2024. Cointelegraph reports this.

The publication noted that in January, Finance Minister Mehmet Şimşek announced the completion of the rules. However, the corresponding document has not yet been submitted to parliament.

In November 2023, the official announced the implementation of FATF rules to remove the country from the “gray list”, where the organization includes jurisdictions with insufficient efforts to prevent money laundering and terrorist financing. Türkiye has been present in it since October 2021.

According to local influencer Ismail Hakki Polat, Turkey currently has “very relaxed regulations” for cryptocurrencies, but they do not suit parliament.

Two key rules regarding digital assets have been adopted by the Central Bank. They provide for a ban on payments in cryptocurrencies and compliance with AML rules under the supervision of the Financial Crimes Investigation Council of the Ministry of Finance.