Cryptocurrency Regulation Is On The Way: Here Are The First Details To Be Expected!

It seems that the "crypto regulation" that the crypto money community in Turkey has been waiting for for a long time has come to the end of the road. While the new regulation is expected to bring CMB supervision to crypto companies, the details draw attention.

According to the news reported by NTV, the main item at the Economic Coordination Board meeting was the regulation of crypto money. While the regulations are expected to be presented to parliament in the coming days or weeks, the regulation is expected to primarily cover crypto companies. It is expected that the tax issue in cryptocurrencies will not be among the first expectations and suggestions.

The authorities, who made statements after the Economic Coordination Board meeting, announced that the studies carried out under the leadership of the Ministry of Treasury and Finance have now reached the final stage.

As we reported as Koinfinans.com, Turkey aims to get out of the "gray list" taken by the FATF (Financial Action Task Force) in 2021 after the latest regulations it will make. According to officials, 39 of the 40 articles submitted to Turkey have already been completed, but the deficiencies in cryptocurrency regulations continue. All deficiencies are expected to be solved with these latest regulations.

Turkey Prepares for Cryptocurrency Regulation: CMB Audit Will Come!

After the regulations, which are expected to be implemented as soon as possible, companies engaged in crypto trading activities will have to comply with certain rules. According to the information conveyed by sources close to the sector, the companies will be subject to the supervision of the Capital Markets Board after these regulations.

After the regulations, crypto exchanges will also start to work like intermediary firms. However, these exchanges will also have an obligation to hold capital.

The cryptocurrency tax, which many citizens are curious about, may not have been included in the current regulatory discussions. Although there is no clear explanation on this issue, names close to the sector have announced that they do not expect such a tax, at least in the first regulation.

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