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27 July 2021

Turkish Draft Law Regulating Cryptocurrencies Enters Parliament in October – Regulation Bitcoin News

Turkish Draft Law Regulating Cryptocurrencies Enters Parliament in October – Regulation Bitcoin News


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The Turkish government has prepared a bill designed to implement new regulations for the country’s crypto space.

The legislation, which will be filed in the parliament this fall, will introduce taxation for crypto holdings and specific capital requirements for companies operating with digital assets.

Quoted by the Sabah daily, Gül noted that the Turkish regulations will be similar to those that are being introduced in Western Europe and the United States, although a “little more stringent,” the official remarked, citing the country’s free-floating exchange rate regime as a factor.

The new legislation will also define the different types of crypto assets and deal with matters related to the issuance and distribution of digital coins.

Turkey, which is one of the nations where cryptocurrencies have gained significant popularity, prohibited the use of digital assets for payments in April with a regulation issued by the central bank.

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