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Turkey Drafts Crypto Bills To Align With International Standards

In a major move, Turkey drafted a crypto bill, tabled by the ruling party (AK Party) Group Chairperson Abdullah Güler on May 16, to regulate the cryptocurrency market in accordance with international standards. The proposed legislation covers various aspects of the crypto industry, including virtual asset service providers (VASPs), trading platforms, asset storage, and transactions conducted by Turkish residents. This came after the Turkish government announced the near completion of the crypto regulatory framework to comply with the Financial Action Task Force (FATF) standards in January 2024.

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