Developments that closely concern the cryptocurrency community in Turkey are coming one after the other. The latest statements came from the Minister of Treasury and Finance, Mehmet Şimşek.
Definition of cryptocurrency in the Official Gazette
Turkey recently looked at the program prepared by the Presidency’s Strategy and Budget Directorate. Accordingly, the 2024 Presidential Annual Program was published in the Official Gazette. The program includes an important look at the regulation of cryptocurrencies.
Cryptocurrencies are defined as “virtual assets representing a digital value that can be bought, sold and transferred digitally.” The program emphasizes legislative efforts to regulate transactions and taxation policies regarding these crypto assets.
Crypto regulation in annual program
Every statement made about crypto currencies attracts attention. Accordingly, its inclusion in the 2024 program is proof of how important the field has become. Our country is already taking steps to create its own digital currency. This situation shows the increasing influence of cryptocurrencies in Turkey. On the other hand, it shows the country’s determination to address its use.
In the midst of this determination, the statement of the Minister of Treasury and Finance made a splash in the crypto world. Accordingly, Minister of Treasury and Finance Mehmet Şimşek made a statement on the issue during the budget presentation at the Grand National Assembly of Turkey Planning and Budget Commission. He also emphasized that fighting financial crimes is a top priority. He stated that Turkey complies with 39 of the 40 standards set by the Financial Action Task Force (FATF). The only ongoing task is related to cryptocurrencies.
Works are about to be completed
Şimşek states that the necessary work on cryptocurrency regulations in Turkey is about to be completed. Accordingly, it indicates the country’s determination to excel in the field of technical harmonization. The ultimate goal is to strengthen Turkey’s position. Additionally, removing the country from FATF’s gray list will ensure efficiency and effectiveness in practice.
When we look at it as Kriptokoin.com, Turkey’s 2024 Annual Program attracts attention. There is also awareness of the increasing importance of cryptocurrencies in the global financial environment. Accordingly, there is a strong emphasis on the regulation of cryptocurrencies. Its commitment to addressing financial crimes and complying with international standards, especially in the crypto sector, is notable. On the other hand, it underlines the government’s commitment to achieving harmony and global recognition. Regulations continue to evolve. Accordingly, let us state that the point we have reached is very important. Türkiye aims to gain an important position in this ever-changing financial environment.