“Turkey Set to Introduce New Encryption Legislation in Line with International Standards”

According to Bitcoin.com, Turkey is preparing to submit a new crypto asset regulation bill to the Grand National Assembly of Turkey (TBMM). The purpose of this bill is to align with international standards, reduce the risks associated with cryptocurrency transactions, and implement strict regulation of cryptocurrency trading platforms by the Capital Markets Board. The bill will also ensure the safe custody of assets, establish transparent platform-client relationships, and clearly define penalties for misconduct. It is expected that the draft legislation will be submitted to the TBMM within a week. This initiative is strongly supported by the Minister of Finance, 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 on Money Laundering.