Türkiye prepares new encryption law to align with international standards

Turkey is preparing to submit a new law to regulate cryptocurrency assets to the parliament. The law aims to align with international standards, reduce risks associated with cryptocurrency transactions, and implement strict regulation of cryptocurrency trading platforms by the Capital Markets Board. It will also ensure the safekeeping of assets, establish transparent platforms and customer relationships, and clearly define sanctions for non-compliant behavior. The legislative proposal is expected to be submitted to the parliament within a week.

This move has received strong support from Finance Minister Mehmet Şimşek, with the aim of removing Turkey from the "gray list" of financial crime regulatory agencies and improving its status under the standards of the Financial Action Task Force.