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Turkey’s New Crypto Policies Address FATF Concerns: Report


by CoinEdition
  • Turkey has launched new crypto regulatory policies focusing on licensing and taxation.
  • The introduction of a new regulatory system is the country’s strategic move to get off FATF’s “grey list.”
  • The policy will also address capital requirements, digital security measures, custody services, and proof of reserves.

Turkey, the fourth largest country in crypto trading, has introduced new crypto regulation policies focusing on licensing and taxation. The country is taking this step to regulate cryptocurrencies to get off the Financial Action Task Force’s (FATF) “grey list.”

Bora Erdamar, Director at BlockchainIST Center, a research and development center for blockchain technology, acknowledged the necessity of new regulatory norms in Turkey’s crypto markets to “prevent abuse of the system.” He asserted, 

Introducing certain licensing standards will be one of the top priorities in the new regulation.

Erdamar added that the country has also proposed to launch regulatory policies to address capital requirements, digital security measures, and custody services, among other issues.

Mucahit Donmez, Binance Turkey’s chief executive, flagged the …

The post Turkey’s New Crypto Policies Address FATF Concerns: Report appeared first on Coin Edition.

Read the article at CoinEdition

Read More

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“They Already Paid in Cash. Sorry.”: Ex-SEC Official Debunks XRP Rumors

“They Already Paid in Cash. Sorry.”: Ex-SEC Official Debunks XRP Rumors

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Turkey’s New Crypto Policies Address FATF Concerns: Report


by CoinEdition
  • Turkey has launched new crypto regulatory policies focusing on licensing and taxation.
  • The introduction of a new regulatory system is the country’s strategic move to get off FATF’s “grey list.”
  • The policy will also address capital requirements, digital security measures, custody services, and proof of reserves.

Turkey, the fourth largest country in crypto trading, has introduced new crypto regulation policies focusing on licensing and taxation. The country is taking this step to regulate cryptocurrencies to get off the Financial Action Task Force’s (FATF) “grey list.”

Bora Erdamar, Director at BlockchainIST Center, a research and development center for blockchain technology, acknowledged the necessity of new regulatory norms in Turkey’s crypto markets to “prevent abuse of the system.” He asserted, 

Introducing certain licensing standards will be one of the top priorities in the new regulation.

Erdamar added that the country has also proposed to launch regulatory policies to address capital requirements, digital security measures, and custody services, among other issues.

Mucahit Donmez, Binance Turkey’s chief executive, flagged the …

The post Turkey’s New Crypto Policies Address FATF Concerns: Report appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Ethereum Price Today: Breakout Pushes ETH Toward $3,500

Ethereum Price Today: Breakout Pushes ETH Toward $3,500

The Ethereum price today is holding above $3,430 after a steep rally that followed a ...
“They Already Paid in Cash. Sorry.”: Ex-SEC Official Debunks XRP Rumors

“They Already Paid in Cash. Sorry.”: Ex-SEC Official Debunks XRP Rumors

Former SEC enforcement attorney Marc Fagel has confirmed that Ripple has already paid...