Cryptocurrency bill in Turkey: what it means for investors

1 min read

The AK Party has announced a bill to regulate cryptocurrencies in Turkey, which has raised concerns among investors.

From now on, a licensing system similar to that of the US and Europe will be introduced. License requirements: Foreign exchanges that want to operate in Turkey must establish a company and fulfill the requirements set by the Capital Markets Board (CMB).
Those exchanges that already have companies in Turkey can continue to operate by obtaining a license from the CMB.

The draft law does not prohibit foreign exchanges, they are allowed to operate in Turkey, but subject to obtaining a license. However, some exchanges may not meet the requirements or may not want to obtain a license. Investors should monitor developments to see how the bill will affect their investments.

The draft law is still under development and its final content may change. The CMB has not yet released detailed licensing requirements.
Investors are advised to conduct their own research and consult with financial advisors before making any investment decisions.

You May Also Like

More From Author

+ There are no comments

Add yours