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Turkey will impose stricter regulations on digital assets

Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Nevzat Devranoglu

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.

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