Coin

<ul class="news-points"> 
 <li>Turkey’s parliament passed new crypto legislation.</li> 
 <li>New regulation increases operational costs for exchanges.</li> 
 <li>Despite economic challenges, the Turkish Lira’s crypto trading volume remains strong.</li> 
</ul> 
Turkish regulators have introduced the country’s first comprehensive crypto legislation to regulate its burgeoning cryptocurrency market, outlining licensing and compliance requirements for crypto-asset service providers (CASPs). 
On July 2, Turkey’s parliament approved legislation aimed at helping the country exit the Financial Action Task Force’s (FATF) “gray list” of countries with insufficient anti-money laundering measures. The new law introduces licensing, compliance, and transaction requirements for CASPs, and imposes an annual fee of 2% of trading income on platforms and custody services. 
While the <a href="https://coinedition.com/turkey-unveils-major-tax-overhaul-eyes-new-crypto-regulations/">new regulation</a> provides greater clarity, it also increases operational costs and hurdles for exchanges. The full impact on local and foreign market participants is expected to become clearer with the introduction of secondary legislation. 
Turkey’s cryptocurrency market has experienced significant growth, fueled by economic factors such as high inflation, curren…
The post <a href="https://coinedition.com/turkey-adopts-landmark-crypto-law-aims-to-exit-fatf-gray-list/">Turkey Adopts Landmark Crypto Law, Aims to Exit FATF Gray List</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Turkey Adopts Landmark Crypto Law, Aims to Exit FATF Gray List

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