(CoinDesk Turkey) – Turkey’s government is gearing up to introduce new legislation for the crypto sector. It’s still unclear how restrictive the new laws might be, but it hasn’t spooked adoption even at the institutional level. This week, two of Turkey’s largest banking groups announced crypto initiatives.
However, the government has not been a fan of unchecked adoption. In 2021, the country’s central bank prohibited the use of crypto for payments, although officials ruled out a total ban on digital assets.
In November, a government official said crypto legislation will soon come to Parliament. There’s little detail about the framework, but it’s part of the country’s strategy to leave global watchdog Financial Action Task Force’s (FATF) “gray list,” intended for countries that need to address shortcomings in their anti-money laundering and terrorist financing measures.
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