Minister of Treasury and Finance Mehmet Şimşek announced that the studies on crypto assets have been completed and the definitions of crypto asset, wallet, crypto asset service provider, crypto asset storage, buying and selling platform have been determined.
Minister of Treasury and Finance Şimşek made statements about legal regulations regarding crypto assets. Stating that the technical phase of the legal regulation studies on crypto assets has come to an end, Minister Şimşek stated that the parties have taken steps to reduce their risks, giving examples from international practices regarding abuses and excessive price movements on some platforms. Minister Şimşek added that they have taken the necessary steps to get out of the gray list within the scope of FATF.
Minister Şimşek emphasized the regulations introduced by the Central Bank and MASAK and stated that they were informed about the transactions and transfers on the platforms, but it was necessary to do more.
Minister Mehmet Şimşek stated that the main goal of the legal regulations is to regulate crypto asset transactions. Şimşek stated that crypto asset trading platforms will be licensed by the CMB and operating conditions similar to financial institutions will be mandatory.
Minister Şimşek also announced that the CMB will be given the authority to make regulations that will allow the issuance of crypto assets, and with this regulation, the issuance of crypto assets will be allowed instead of the system registered in the Central Registry Agency (MKK).
