With the great interest in cryptocurrencies, especially in the 2021 bull season, politics has also begun to regulate this area. First, in April (2021), a regulation was published stating that payments could not be made with cryptocurrencies, but then, with the intervening bear season, the regulations were virtually shelved.

It has become available to be submitted to the Turkish Grand National Assembly.

However, by 2023, the interest in cryptocurrencies has begun to increase again on a global scale, which has reactivated the regulators, especially the Ministry of Finance. The government, pumped up with the end of the May 2023 elections, brought the relevant draft bill to the final stage, that is, to be submitted to the parliament, after repeated meetings with industry stakeholders.

Şimşek said, “After the election”

After the May 2023 elections and the March 2024 local elections, which Turkey was eagerly awaiting, ended, there was no major obstacle in this sense. In a television program he attended in March, Minister of Finance Mehmet Şimşek pointed out that the cryptocurrency law would be submitted to the parliament after the elections.

After all this, the final steps are expected to be taken this week to present the bill to the parliament. According to the news of Ebru Karatosun from Hürriyet, in addition to the draft law on cryptocurrencies, the button will be pressed this week for many proposals, from the 9th Judicial Package to road tolls and regulations in the field of public health. The Turkish Grand National Assembly will start its work tomorrow, after a period of 1.5 months, after a break due to both local elections and Eid al-Fitr.

What was inside?

As it is known, the bill was a matter of debate for a long time and was a bill that investors feared on many issues, especially taxes.

As stated in the special news given by Uzmancoin in January; There are no articles in the bill that would scare Turkish crypto investors or deter them from doing business in Turkey “for now.”

Regulators do not want to burden investors with taxes, but there will be no compromises on security. Therefore, great importance is given to KYC processes. Crypto transfers are aimed to be like EFTs in banks.

On the other hand, it is also known that stock exchanges that want to operate in Turkey will have to open offices here. However, opening an office will not be enough and the company will need to obtain a CMB license. The main regulator of the sector will again be CMB.

One of the important topics is that leveraged transactions will be banned in Turkey… Bitcoin ATMs will also be removed again.

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Source: https://uzmancoin.com/kripto-yasa-turkiye-bitcoin-tbmm/

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