Quote from: zasad@ on May 16, 2024, 11:30:05 AM

https://news.bitcoin.com/turkey-prepares-new-crypto-law-to-align-with-international-standards/
"Turkey is preparing to present a new law to regulate crypto assets to Parliament. The legislation, aimed at aligning with international standards and reducing risks associated with crypto transactions, will enforce strict regulations on the licensing and operation of cryptocurrency trading platforms by the Capital Markets Board. It will also ensure the safe custody of assets, establish transparent platform-customer relationships, and specify sanctions for non-compliance. The draft legislation is expected to be submitted to Parliament within a week. This initiative, strongly endorsed by Treasury and Finance Minister Mehmet Şimşek, seeks to remove Turkey from a financial crime watchdog’s “gray list” and enhance its standing under the Financial Action Task Force’s standards."

Which essentially means, Turkey is going to implement a stricter Anti Money Laundering Act on crypto transactions and probably ban all non-kyc exchanges from the country.

Whenever some countries talk about following the international standard, it usually starts with taking away the financial freedom of the crypto users and forcing them to report every transactions to the government so that they can be taxed appropriately.

Let's wait for the finalized draft of the law. But unless something shocking happens, Turkish users should start expecting to follow a strict rules regarding crypto transactions.