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Turkey has announced a tightening of the law on crypto-assets.
The Financial Action Task Force (FATF) gray listed Turkey in 2021 for not taking the required measures to prevent money laundering, in view of which the Turkish government has announced stricter legislation on crypto-assets.
According to media reports, the Turkish government is preparing new legislation covering crypto-assets to persuade the FATF to remove them from the gray list.
Speaking to a parliamentary commission, Turkish Finance Minister Mehmet Simsik said the FATF report found that Turkey met all but one of the watchdog’s 40 conditions and that it remained an issue. There is legislation related to crypto-currency.
The Turkish Finance Minister said that we will submit the draft law on crypto-assets to the parliament as soon as possible, after which there will be no reason for Turkey to remain on the gray list if there are no other political considerations.
However, the finance minister did not give further details of the legal changes.
