Minister Mehmet Şimşek gave a date for the Cryptocurrency Law!

Minister of Treasury and Finance Mehmet Şimşek, who stated in his previous statements that studies on cryptocurrencies are continuing and has reached the final stage, made new statements.

According to NTV’s news, Mehmet Şimşek gave a date for cryptocurrency regulations in his speech at the Turkish Grand National Assembly General Assembly on the 2024 budget.

At this point, Şimşek said that they will bring the legal regulation regarding crypto assets to the Turkish Grand National Assembly in January and continued his speech as follows:

“We are determinedly fighting against money laundering and financing of terrorism. We are also meeting the technical conditions to be removed from the gray list of the Financial Action Task Force (FATF).

Because Türkiye has become compatible with 39 of 40 FATF standards. There’s only one thing left. And that is cryptocurrency regulation.

Hopefully, we will bring it to the parliament in January.

Legal regulation regarding crypto assets is required, but this is not enough. Additionally, activity in the application is required to be removed from the FATF greylist. We have come a long way in terms of effectiveness in practice and we shared these with FATF. Of course, this is a decision, it may not be possible if even one country objects, but I believe that Turkey’s progress will be appreciated eventually. “Hopefully, next year, Türkiye will be removed from the gray list.”

*This is not investment advice.

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