The bill aims to make all Turkish crypto investors accountable and controlled. The Capital Market Board (CMB) should become the main regulator, licensing trading platforms, exchangers, brokers and monitoring the relationship between users and all these platforms. The CMB will be obliged to develop rules for collecting fines, imposing sanctions, resolving disputes between market participants, and tax rates for the sale and purchase of cryptocurrencies.
According to the bill, the Scientific and Technological Research Council of Turkey will be responsible for the development of the crypto market. He will develop blockchain technologies and other digital tools.
The ruling party expects that the law will help remove claims against Ankara from the Financial Action Task Force (FATF). It is expected that with the advent of the document, Turkey will be excluded from the gray list, where the country was included due to insufficient measures to combat money laundering using cryptocurrencies.
Previously, MisyonTech, a subsidiary of the Turkish neobank Misyon, entered into an agreement for the storage and tokenization of digital assets with the Swiss cryptocurrency platform Taurus.
Source: Bits
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