At the end of April 2021, a ban on any transactions with bitcoin and other digital currencies began in Turkey.
Crypto exchanges have suspended their activities in this country. However, authorities later announced that the ban was temporary and would soon be lifted. Operations with digital assets will become available to citizens and companies after the legalization of the cryptosphere.
As Sabah clarifies, already in October 2021, the Turkish government will present a bill on regulating relations in the industry. The document will be submitted to parliament for consideration.
Deputy head of the Turkish finance department Sakir Ercan Gul told reporters that the legislation will be developed on the model of the European and American regulatory framework.
The Capital Markets Council will oversee the work of crypto companies. The authorities want to not only increase the transparency of digital currencies transactions but also protect investors.
In addition, the Turkish government will set financial requirements for crypto companies and is going to levy taxes on income above a certain amount.