Turkey eyes new law on crypto assets: report

2023-11-1 19:14

Turkey is preparing a new law on crypto regulation, according to Finance Minister Mehmet Simsek. The legislation looks to toughen approach to money laundering and terrorism financing to bring Turkey into compliance with Financial Action Task Force (FATF) requirements.

Turkey is looking to toughen its approach to cryptocurrency regulation, according to a statement made by the country’s finance minister.

Reuters reported on Wednesday, November 1 that Turkey’s quest for new legislation aims at clear regulation for crypto-assets as a route to getting an upgrade in its money laundering and terrorist financing outlook.

Turkey seeks to comply with FATF requirements

Specifically, Turkey hopes the new law will persuade the Financial Action Task Force (FATF) to remove the country from a “grey list” that includes countries whose anti-money laundering (AML) and terrorism financing crackdown is insufficient. 

The global watchdog added Turkey to this list of countries in 2021.

Turkey’s Finance Minister Mehmet Simsek, in an address delivered to a parliamentary commission on October 31, noted that the country was nearing full technical compliance with FATF’s 40 standards. “Work related to crypto assets” was the only issue now.

According to Simsek, the ministry is set to submit to parliament a crypto asset law proposal. Legislative approval of this proposal should see Turkey removed from the “grey list”, unless there are issues – like political considerations.

Reuters says Simsek did not give any other details regarding the expected regulatory step.

The Turkish government’s quest to align with FATF requirements around money laundering and terrorism financing comes amid a wider global push to regulate cryptocurrencies.

That has seen the likes of the EU enacting the Markets in CryptoAsset (MiCA) law and the UK passing into law its Financial Services and Markets Act (FSMA). The comprehensive legislations are expected to bring more clarity to crypto regulation, including stablecoins. 

The post Turkey eyes new law on crypto assets: report appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 4.209b TNB

turkey crypto new law bring financing laundering

Источник: coinjournal.net

turkey crypto → Результатов: 126


Фото:

Turkey Updates Cryptocurrency Regulation Amid Payments Ban and Collapsing Exchanges

The Turkish government has updated the country’s cryptocurrency regulation following the banning of cryptocurrencies for payments and failing crypto exchanges. Published in the Official Gazette on Saturday, the new rule adds crypto trading platforms to the list of entities covered by anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. The Official Gazette […]

2021-5-3 10:30


Фото:

Google Searches for ‘Bitcoin’ Hits New High in Turkey Following Ban on Crypto Payments

The search for “Bitcoin” on Google has soared to a new all-time high in Turkey following the ban on cryptocurrency payments in the country. A few days ago, the government placed a blanket ban on all use of cryptocurrency for payment in the country, citing concerns over the security of users’ funds. However, the ban […]

2021-4-25 14:27


Фото:

Turkish Crypto Exchange Exit Scam: CEO Flees Country, 62 People Detained, Users Cannot Access $2 Billion of Funds

A Turkish cryptocurrency exchange with about 400,000 users has been accused of pulling an exit scam. Its CEO has reportedly fled Turkey, allegedly taking $2 billion of customer funds with him. The police have an arrest warrant for the CEO and 62 people have already been detained in connection with the case. Crypto Exchange Accused […]

2021-4-24 16:30


Фото:

Turkish Police Dismantle Massive Chinese Crypto Scam That Held 101 Hostages

A massive police operation took place in Istanbul, Turkey, against a Chinese gang’s crypto scam. Authorities found that criminals kidnapped 101 people and forced them to run scam operations. Scammers Tricked Hostages by Promising Them Work in a Legit ‘Crypto Investment Consultancy’ According to Demirören Haber Ajansı, Istanbul police cracked down a fake “crypto investment […]

2021-3-17 18:00


Фото:

Istanbul cops raid fake Crypto Investment scam holding 100 people captive

According to reports from local news outlets, a Chinese gang of 18 suspects was recently detained by the police authorities of Istanbul on account of kidnapping and operating a crypto scam scheme. The gang which held its operations in Silivri in the Province of Istanbul, Turkey, attracted 101 people including two Turkmens, 95 Chinese nationals, […]

2021-3-15 15:33


Turkish crypto exchange THODEX now open to users worldwide

THODEX, a cryptocurrency exchange founded in 2017 based in Turkey and globalized under the license of FinCen MSB from the USA, is now open to users worldwide. The exchange company, operating as a global brand with its FinCen MSB license from the USA, has begun to recruit users worldwide while accelerating its activities in many […] CryptoNinjas » Turkish crypto exchange THODEX now open to users worldwide

2020-12-31 22:16


Фото:

dCloud Storage Platform SINOVATE & Blockchain Marketing Agency Bitcoin PR Buzz Announce Partnership

14th December 2020, Turkey – dCloud storage platform SINOVATE and veteran crypto marketing agency Bitcoin PR Buzz announce a key partnership to highlight the increasing need for a more viable long-term dCloud data solution, and reinforce the importance of industry partnerships for the adoption of dCloud worldwide.

2020-12-14 14:28


Фото:

dCloud Storage Platform SINOVATE & Blockchain Marketing Agency Bitcoin PR Buzz Announce Partnership 

7th December 2020, Turkey – dCloud storage platform SINOVATE and veteran crypto marketing agency Bitcoin PR Buzz announce a key partnership to highlight the increasing need for a more viable long-term dCloud data solution, and reinforce the importance of industry partnerships for the adoption of dCloud worldwide.

2020-12-8 19:09


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Coinbase withdraws pre-application to enter Turkish market

Cryptocurrency exchange Coinbase has quietly pulled its bid to enter the Turkish market, joining other trading platforms that have backed out. U.S.-based crypto exchange Coinbase withdrew its pre-application to enter Turkey just four months after applying to the list of…

Binance sunsets referral program in Turkey due to local regulations

Crypto exchange Binance has ended its retail referral program in Turkey, just months after registering its services with the local regulator. Cryptocurrency exchange Binance is changing its operations in Turkey, announcing the termination of its referral program for retail customers…

Turkey, Russia ban Discord over child abuse allegations

Turkey and Russia have both moved to ban the popular communication platform Discord, citing concerns over child abuse and other criminal activities.  In Turkey, authorities blocked access to Discord after a court ruling linked the platform to incidents of child…

Turkey decides against taxing crypto profits this year

Vice President Cevdet Yilmaz confirmed that Turkey will not implement a tax on profits from crypto or stock trading this year. The government previously considered such a tax but has focused on reducing existing tax exemptions, according to Bloomberg reporting.…