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The bill on the regulation of crypto assets, which passed through the Planning and Budget Commission of the Grand National Assembly of Turkey and started to be discussed in the General Assembly, was discussed by various members of parliament.
Saadet Party Hatay Deputy Necmettin ĂalıĆkan made harsh criticisms about the crypto asset regulation at the podium. ĂalıĆkan said, "In 2018, the Financial Stability Committee published a report saying 'Take immediate action'. However, after so much time has passed and many people have been victimized, this law is being passed within a narrow framework," ĂalıĆkan said and added: "The law only contains regulations to protect the big players." "However, there is no provision to prevent the victimization of students, civil servants, teachers, tradesmen and low-income masses."
Ä°YÄ° Party Ä°zmir Deputy Ămit Ăzlale stated that considering crypto assets as a "rent source" or "tax source" is a shallow approach. "Parliament and ministries need to pay more attention to crypto assets and blockchain technology," Ăzlale said. Drawing attention to the use of crypto assets in money laundering, Ăzlale said, "If we use crypto assets as a money laundering mechanism and ignore the technology behind it, Turkey will not only be ineffective in the fight against informality, but we cannot prevent it from rapidly turning into a money laundering paradise."
DEM Party Antalya Deputy Hakkı Saruhan Oluç reminded that Treasury and Finance Minister Mehmet ĆimĆek emphasized that the crypto asset bill was necessary for Turkey to be removed from the gray list of the Financial Action Force. "If Turkey has become a paradise for money laundering and has entered the FATF's gray list, it is because you have not done what you should have done for years," said Oluç, adding that the proposal does not provide protection or insurance for small investors, but also does not tax this area where large profits are made.
CHP KarabĂŒk Deputy Cevdet Akay argued that some articles of the bill were against the Constitution. "We think these articles will be taken to the Constitutional Court and will be annulled," Akay said. He also stated that capital adequacy requirement should be required from cryptocurrency exchanges, but this was not included in the proposal.
AK Party Ankara Deputy Ămer Ä°leri, the first signer of the bill, stated that there are more than 10 million accounts with a total balance in 10 cryptocurrency exchanges operating in the country. Forward said that the bill was prepared by exchanging ideas with sector stakeholders and that the feedback was evaluated by listening to the sensitivities and priorities of the citizens. Expressing that the proposal has a protective and protective structure, not a prohibitive one, Ä°leri emphasized that they have adopted an approach in line with the spirit of decentralized technologies.
Necmettin ĂalıĆkan criticized the way the law was prepared and said, "Since bureaucrats prepared this law, handed it over to you, brought it all as it is. At least you could have added it at the end and said, 'Hey bureaucrat, if you abuse your duty, as we have witnessed bad examples of, the following sanctions will be applied.'" said. Forleri, on the other hand, opposed ĂalıĆkan's criticism and said, "I consider it disrespectful to the Parliament to use a statement such as 'it is being prepared somewhere and it is passed without touching the dot and comma' regarding the drafting process of the law."
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