Turkey Set to Advance Cryptocurrency Regulation Post-Election, Says Finance Minister

Minister of Treasury and Finance Mehmet Şimşek has provided insights into Turkey’s cryptocurrency regulation efforts, indicating that new legislation is likely to proceed through Parliament following the upcoming election. In a joint broadcast with Habertürk TV and Bloomberg HT, Şimşek emphasized the government’s approach of regulation over prohibition, stating that many developing nations have sought guidance from Turkey on the proposed draft.

Highlighting the international perspective, Şimşek mentioned an upcoming visit by the Financial Action Task Force (FATF) delegation in April-May for an on-site inspection. He expressed optimism that Turkey could be removed from the FATF’s gray list by June 2024, provided political factors do not intervene.

In addressing market stability, Şimşek reassured that the government is focused on maintaining a balanced approach, avoiding tax regulations that could disrupt the markets. He emphasized ongoing efforts to ensure fairness in taxation across various sectors, including the cryptocurrency market.