Work on cryptocurrency regulation in Turkey continues at full speed, and there is a bill expected to be presented to the Parliament this week. Here's what you need to know about it:

Purpose of the Draft Law: The draft law aims to regulate and supervise platforms that trade crypto assets by the Capital Markets Board (CMB). This regulation aims to ensure safer transactions of crypto assets and protect the rights of investors.

Taxation The draft law also foresees taxes being collected from cryptocurrency investors. Although there is no official statement at the moment, a taxation rate of 2 per thousand is mentioned2. However, some sources mention higher rates.

Articles to Protect Investors The bill proposes to make comprehensive definitions for crypto assets and to license intermediary institutions by the CMB. Thus, it is aimed to protect the rights of investors2.

Sanctions and Penalties With the law, sanctions and penalties are expected to come to the fore in order to prevent misuse of cryptocurrency transactions3.

Parliamentary Process The regulation that the AK Party will present to the Parliament this week aims to prevent the cryptocurrency industry from illegal activities such as money laundering and financing of terrorism145.

This bill is seen as an important step that will regulate the cryptocurrency market in Turkey and protect the rights of investors. It is a matter of curiosity how the bill will proceed in the Parliament and what its final version will be. We will continue to follow the developments.#turkiyevergi #Binance