Türkiye Removed from the Gray List Thanks to Cryptocurrency



Türkiye has officially been removed from the gray list of the Financial Action Task Force (FATF).

Minister of Treasury and Finance Mehmet Şimşek attended the general assembly meeting held in Singapore today to talk about Turkey's removal from the list.

There are countries on FATF's gray list that have deficiencies in combating money laundering and terrorism financing, but actively cooperate with FATF to address them.



FATF, which checks countries' compliance with the fight against financial crimes, put Turkey on the gray list in 2021. Various steps were taken to remove it from the list.

Last step to get off the list: Cryptocurrency

Türkiye was in compliance with 39 out of 40 of the standards applied by FATF. The last step to be taken to get out of the gray list was the preparation of cryptocurrency legislation.

Following the meeting in October 2023, Minister Şimşek said, “It was underlined that there is only one item left in the action plan for our country to be removed from the gray list… the legal regulation regarding crypto assets. "If there are no other political considerations, there will be no reason for our country to remain on the gray list," he said.

The Bill on Amendments to the Capital Markets Law, which regulates the cryptocurrency sector, was accepted at the General Assembly of the Turkish Grand National Assembly this week and became law.

Which countries are on the gray list?

Following Turkey's removal, Bulgaria, Burkina Faso, Cameroon, Croatia, Democratic Republic of the Congo, Haiti, Jamaica, Kenya, Mali, Mozambique, Namibia, Nigeria, Philippines, Senegal, South Africa, South Sudan, Syria, Tanzania, Vietnam and Yemen are on the list. It is located.