Turkey Adopts Landmark Crypto Law, Aims to Exit FATF Gray List
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Turkish regulators have introduced the country’s first comprehensive cryptocurrency legislation. This regulation outlines licensing and compliance requirements for crypto-asset service providers (CASPs). The move, approved by Turkey’s parliament on July 2, aims to help the country exit the Financial Action Task Force’s (FATF) 'gray list' of countries with inadequate anti-money laundering measures.
The legislation signifies Turkey's intent to regulate its expanding cryptocurrency market amid growing global scrutiny. It establishes clear guidelines for CASPs, potentially encouraging more transparent and secure crypto trading practices in the country.
Turkey's inclusion on the FATF gray list has had significant economic implications, and the new law is a step towards enhancing its financial system's integrity. This regulatory advancement seeks to align Turkey with international standards and bolster investor confidence.
Source : coinedition.com ↗
