Türkiye plans to implement a small transaction levy on stock trading to encourage long-term investment, rather than taxing stock market gains. The government aims to stabilize the market and combat inflation, while also phasing out a foreign exchange-protected deposit scheme introduced in 2021. The country anticipates a drop in consumer prices and a decrease in inflation to single digits by 2026, while maintaining a focus on production, export, and investment for sustainable economic growth.
about Türkiye Considers Transaction Levy to Encourage Long-Term Stock InvestmentsMehmet Şimşek
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OKX Expands Business into Turkey Amid New Crypto Regulations
OKX has launched its new platform in Turkey, offering customized services and trading pairs to Turkish users amid the country’s upcoming crypto regulations. The move comes as Turkey aims to address criminal cases and position itself as a hub for Web 3 innovation, following its hosting of Binance’s Blockchain Week. The government’s finance department is finalizing new regulations in response to the Financial Action Task Force’s grey listing and high-profile criminal cases in the crypto space.
about OKX Expands Business into Turkey Amid New Crypto RegulationsTurkey Nears Completion of Crypto Regulation for Trading Platforms
Turkey’s crypto asset regulation, aimed at introducing licensing and operating standards for trading platforms, is nearing completion. The Finance Minister, Mehmet Simsek, stated that this move is expected to help Turkey get off the Financial Action Task Force’s (FATF) “grey list”.Under the new regulations, crypto firms will need to obtain licenses from Turkey’s Capital Market Board (CMB). Turkey, which ranks fourth globally in raw crypto transaction volumes, is implementing these measures to increase trust and reduce risks in crypto trading.
about Turkey Nears Completion of Crypto Regulation for Trading PlatformsTurkey Prepares Crypto Legislation, Aims to Exit FATF Grey List
Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, has revealed details about the country’s upcoming crypto legislation. The new rules, which are in their final stages of development, will require cryptocurrency platforms to obtain licenses from the Capital Markets Board (CMB) and will provide legal definitions for key cryptocurrency terms.The legislation aims to reduce the risks of cryptocurrency trading for regular investors and align with international norms, including the guidelines of the Financial Action Task Force (FATF). This move is part of Turkey’s efforts to get off the FATF’s grey list, which has negatively impacted the country’s economy.However, Şimşek noted that the new regulations do not include a specific tax code for virtual assets. The Turkish authorities have been considering regulating the country’s cryptocurrency sector, with a focus on licensing and taxes, for some time now.
about Turkey Prepares Crypto Legislation, Aims to Exit FATF Grey ListTurkey Nears Completion of Crypto Regulations for Financial Security
Turkey’s Finance Minister, Mehmet Simsek, has announced that the country’s crypto regulations are nearing completion, aiming to establish a regulated environment for crypto trading platforms. The regulations, overseen by Turkey’s Capital Markets Board (CMB), aim to mitigate trading risks and facilitate Turkey’s removal from the Financial Action Task Force’s (FATF) “grey list”.The regulatory framework will introduce minimum operating standards for digital currency asset trading platforms, including requirements for founders and managers, organizational obligations, and capital stipulations. This move is significant given Turkey’s position as the fourth largest in global crypto transaction volumes.Simsek revealed that Turkey has complied with 39 out of 40 FATF standards, with crypto regulation being the final hurdle. The upcoming regulations are expected to prioritize licensing standards to safeguard the system against potential misuse. Bora Erdamar, Director at BlockchainIST Center, and Mucahit Donmez, CEO of Binance Turkey, have both expressed positive views on the impending regulations.
about Turkey Nears Completion of Crypto Regulations for Financial SecurityTurkey Advances Crypto Regulation to Align with FATF Standards
Turkey’s Minister of Treasury and Finance, Mehmet Simsek, has announced that the country’s crypto regulation framework has reached the technical stage. This advancement is part of Turkey’s efforts to align its anti-money laundering laws with the Financial Action Task Force (FATF) standards and to be removed from the FATF’s “grey list”.The new legislation, once finalised, will promote blockchain development, protect crypto users, and require cryptocurrency trading platforms to register for and obtain licences. This move comes in response to the growing interest in crypto assets among the Turkish population and the associated risks, including fraud and price manipulation.
about Turkey Advances Crypto Regulation to Align with FATF StandardsTurkey Finalizes Crypto Regulations, Aims to Comply with FATF Standards
Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, has disclosed details of the country’s impending crypto regulation. The government plans to provide legal definitions for key crypto concepts, adhere to Financial Action Task Force (FATF) standards, and license trading platforms.Şimşek confirmed to the Anadolu Agency on Jan. 10 that the crypto framework for the Turkish market is nearing completion, with technical aspects currently under evaluation. The government aims to minimize crypto trading risks for ordinary investors in line with international standards.The new guidelines will require crypto platforms to secure licenses from Turkey’s Capital Markets Board (CMB). They will also legally define terms such as “crypto assets,” “crypto wallets,” “crypto asset service providers,” “crypto asset custody service,” and “crypto asset buying and selling platforms.”Şimşek provided an example of a crypto asset definition: “[…] intangible assets that can be created and stored electronically using distributed ledger technology or a similar technology, distributed over digital networks, and capable of expressing value or rights.” He added that the regulations will not include a specific tax regime for virtual assets.Turkish authorities have been contemplating regulations for its crypto market, focusing on licensing and taxation to remove the country from the FATF’s “grey list.” Blockchain analytics firm Chainalysis reports that between July 2022 and June 2023, Turkey ranked fourth globally in raw crypto transaction volumes, with approximately $170 billion in activity, trailing the United States, India, and the United Kingdom.
about Turkey Finalizes Crypto Regulations, Aims to Comply with FATF StandardsTurkey Takes Steps to Regulate Crypto Market and Improve Economic Reputation
Turkey is set to implement comprehensive regulations for its crypto market in an effort to improve its economic reputation and be removed from the FATF’s “grey list.” The proposed regulations aim to establish a strong framework for licensing and taxing crypto assets, with a focus on preventing system abuse and enhancing security measures. This move comes as Turkey recorded significant crypto transaction volumes, highlighting the need for clear regulatory guidelines in the country.
about Turkey Takes Steps to Regulate Crypto Market and Improve Economic ReputationTurkey Prepares to Regulate Crypto Market with New Licensing and Taxation Rules
Turkey is preparing to implement new regulations for the crypto market, focusing on licensing and taxation. These measures aim to address concerns raised by the Financial Action Task Force and improve Turkey’s financial reputation. The regulations are expected to safeguard investors and ensure stability in the country’s crypto sector, while also contributing to its growth.
about Turkey Prepares to Regulate Crypto Market with New Licensing and Taxation RulesTurkey Takes Steps to Regulate Cryptocurrencies
Turkey is taking steps to regulate cryptocurrencies after being placed on the gray list by the Financial Action Task Force. The Finance Minister has announced plans to introduce a draft law on crypto assets, aiming to address compliance issues and remove Turkey from the gray list. However, the specifics of the regulations remain unclear, leaving the crypto industry in a state of uncertainty.
about Turkey Takes Steps to Regulate Cryptocurrencies