The party currently ruling in Turkey submitted a draft Cryptocurrency law to parliament on May 16. The bill focuses on licensing and registration for Cryptocurrency service providers in line with international standards. The draft law aims to update existing laws to comprehensively regulate the Cryptocurrency market. The bill's main focus areas include consumer protection, platform transparency, and compliance with financial regulations.

The draft law aims to regulate Cryptocurrency asset service providers, Cryptocurrency asset platform operations, Cryptocurrency asset custody, and Cryptocurrency asset purchase, sale and transfer transactions carried out by Turkish residents. The law also addresses the classification of Cryptocurrencies and projects, ensuring compliance with existing financial regulations.

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