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Turkey to toughen law on crypto assets

Turkey is preparing new legislation covering crypto-assets to persuade an international crime watchdog to remove it from a “grey list” of countries that have taken insufficient action to prevent money laundering and terrorist financing. The Financial Action Task Force (FATF) downgraded Turkey to a so-called grey list in 2021. Addressing a parliamentary commission late on Tuesday, Finance Minister Mehmet Simsek said a FATF report found Turkey fully compliant with all but one of the watchdog’s 40 standards. The FATF, set up by the G7 group of advanced economies to protect the global financial system, had warned Turkey about “serious shortcomings”.


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