Turkey to Present Law on Cryptocurrencies in October

The Turkish government plans to present a bill regulating cryptocurrencies to Parliament in October, Sabah reported.

The bill will be modeled on legislation in Europe and the U.S., Sabah said Monday, citing Deputy Minister of Treasury and Finance Sakir Ercan Gul.
Crypto-asset companies will be supervised by the Capital Markets Board.
The legislation will supervise trading, strengthen protections for investors and help prevent the use of crypto for illicit purposes.
Tax will be charged on holdings above a certain amount, and capital requirements will be introduced for companies with crypto exposure.

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Turkey Plans to Present Law on Cryptocurrencies in October: Report

Crypto-asset companies will be supervised by the Capital Markets Board and will need to set aside minimum capital requirements.

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