Post
Topic
Board Legal
Re: Turkey Prepares New Crypto Law to Align With International Standards
by
KA_DEe
on 28/05/2024, 20:31:30 UTC
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."



Now this is one positive news we all need but if i may ask though does any country in Africa have this kind of laws that meets up international standards cause truth be told there are alot of folks down in Africa who are actually using crypto to its max and we all know if there are no proper regulations in an environment there's definitely going to be chaos