Turkey has been seeking for years to join NATO and the European Union, and therefore it will do everything necessary to not be included in the “gray list” for monitoring financial crimes, which will certainly be a major stumbling block on the way to joining the European Union, which it has dreamed of for years.
I believe that this “gray list” will force many countries other than Turkey to establish more stringent regulatory laws for cryptocurrencies and everything related to them in order to avoid being placed on the list by the United States and Europe.
Topic: Turkey Prepares New Crypto Law to Align With International Standards - page 2. (Read 357 times)
May 19, 2024, 02:02:29 PM
May 19, 2024, 12:43:49 PM
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."
"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.
May 19, 2024, 08:28:33 AM
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."
I'm quite surprised it took them this long to act for something that happened roughly two and a half years ago... Regardless of that, following the FATF's guidelines [e.g. travel rule] equates to automatically pushing out a lot of their users into decentralized platforms and that'd normally lead to more problems for their government [e.g. endless game of cat and mouse]. 
May 17, 2024, 11:39:49 AM
I decided to use my crypto coins without using an exchange or any other business which is strictly regulated by the government because of that.
There are still a few decent non-KYC CEXes. Sooner or later the governments will ruin those decent exchanges by forcing them require KYC, but until then it probably makes sense to use them at least in some cases. 
May 16, 2024, 10:44:01 PM
Somehow I feel like we were in a better position when there were no regulations for crypto. Nowadays whenever I hear about a new regulation, it usually means it is going to be harder to use/trade crypto or you will pay more taxes.
I decided to use my crypto coins without using an exchange or any other business which is strictly regulated by the government because of that. I’ll either use giftcard sellers like bitrefill or other business (like namecheap) that accept crypto directly, or I will just make p2p trades.
These centralized exchanges will and should suffer from these regulations. It is time for everyone to move their business to a real decentralized exchange, bisq. Let’s see what the gov can do about that.
I decided to use my crypto coins without using an exchange or any other business which is strictly regulated by the government because of that. I’ll either use giftcard sellers like bitrefill or other business (like namecheap) that accept crypto directly, or I will just make p2p trades.
These centralized exchanges will and should suffer from these regulations. It is time for everyone to move their business to a real decentralized exchange, bisq. Let’s see what the gov can do about that.
May 16, 2024, 06:30:05 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."
"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."
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