Turkey proposes new law to increase supervision over crypto and prohibit non-local intermediaries
Türkiye has proposed a new law aimed at reducing risks associated with crypto assets. The bill, introduced by ruling party chairman Abdullah Güler, includes various regulations regarding crypto assets and will be implemented by the Capital Markets Board (CMB). The proposed law aims to introduce a licensing scheme for crypto firms, which will be handled by the CMB and bring the firms under the regulator's scope. Additionally, the bill will increase the CMB's supervision over crypto service providers and prohibit crypto intermediaries without a local origin. The proposed law is expected to increase Türkiye's compliance with international standards regarding crypto assets and make the country's crypto ecosystem safer.
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