On January 4, influential figures in Turkey’s cryptocurrency sector, including Tansel Kaya, Turan Sert, Devrim Danyal, Vedat Güven, and Nurullah Dündar, convened at Istanbul University to deliberate on the circulating draft of Turkey’s cryptocurrency law. While the draft has not been officially confirmed, discussions shed light on its key aspects:

Access to Global Exchanges: Turkish crypto investors will retain the ability to trade on global exchanges.

Foreign Exchange Regulation: Foreign exchanges seeking to serve Turkish investors must establish a local company in Turkey, obtain permission, and comply with regulatory standards.

Taxation Focus: The draft currently lacks details on taxation, with the primary emphasis on combating money laundering. Taxation considerations are expected to emerge in a subsequent phase.

Regulation and Oversight: Exchanges operating in Turkey will be subjected to regulatory frameworks and oversight.

The draft is anticipated to undergo scrutiny by the Plan and Budget Committee, with the input of industry stakeholders being sought. This development marks a pivotal moment in shaping Turkey’s legal framework for the cryptocurrency industry. (Source: Draft bill)