Turkey is preparing to submit a new law to regulate crypto assets to parliament.
The law, which aims to align with international standards and reduce the risks associated with cryptocurrency trading, will impose strict supervision 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-client relationships, and clearly define sanctions for violations. The draft legislation is expected to be submitted to parliament within a week.
The move, which has been strongly supported by Finance Minister Mehmet Şimşek, aims to remove Turkey from the financial crime regulator's "gray list" and improve its status under the Financial Action Task Force (FATF) standards. (Bitcoin.com)