Turkey has introduced a legislative proposal to regulate cryptocurrency asset service providers. The proposed law mandates licensing and registration for crypto firms from Turkey’s Capital Markets Board (CMB), aiming to boost compliance with the Financial Action Task Force (FATF) standards. The law covers the activities of crypto platforms, including storage, purchase, and sale of crypto assets. It does not include tax provisions but requires providers to contribute 1% of their revenue to the CMB and TÜBİTAK. The move is part of Turkey's efforts to create a secure and regulated crypto environment.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
