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.

AccessTimeIconJul 19, 2021 at 12:20 p.m. UTC
Updated Sep 14, 2021 at 1:27 p.m. UTC

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.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC