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Turkey is taking steps to regulate its growing crypto market in order to improve its economic reputation and be removed from the Financial Action Task Force’s (FATF) “grey list.” The proposed regulations, which will be presented to parliament soon, aim to establish a strong framework for licensing and taxing crypto assets. These measures are seen as the final step to meet FATF’s technical requirements for removal from the “grey list.” The regulations will focus on preventing system abuse through specific licensing standards, such as capital adequacy requirements, digital security advancements, enhanced custody services, and rigorous verification of reserves. Turkey’s inclusion on the FATF’s “grey list” has negatively impacted its economic reputation and investment ratings. The government’s response to these concerns demonstrates its commitment to addressing deficiencies in combating money laundering and terrorist financing. Turkey has seen significant crypto transaction volumes, highlighting the need for a well-defined regulatory framework. The government had previously announced its intention to expedite the introduction of new legislation for crypto assets in line with FATF recommendations.