• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Crypto Regulation Turkey BTC ETH Ethereum Bitcoin

Turkey Intensifies Crypto Regulations In Bid to Exit FATF’s Grey List

Reynaldo Marquez
by Reynaldo Marquez
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a strategic move to strengthen its financial regulations, Turkey is set to introduce stringent laws governing crypto-assets.

This decision is part of a broader effort to address the Financial Action Task Force (FATF) concerns and secure removal from its ‘grey list’ of nations with “inadequate” measures against money laundering and terrorist financing.

Related Reading: Sam Bankman-Fried’s Defense Breaks Down: Testifies To Issues Within FTX

Finance Minister Announces New Legislation On Crypto Assets

According to a report from Reuters, the FATF, established by the G7 to safeguard the integrity of the global financial system, placed Turkey on this watchlist in 2021. The country has since worked diligently to align its policies with international standards.

Finance Minister Mehmet Simsek, in a recent parliamentary commission meeting, disclosed that Turkey has successfully complied with 39 of the 40 standards set by the FATF. The sole remaining challenge, he noted, is the regulation of crypto-assets. Simsek stated:

We are on the verge of finalizing a comprehensive legal framework to govern crypto-assets. Our goal is clear: to fortify our financial system and eliminate any grounds for Turkey’s continued presence on the grey list.

While Simsek did not delve into the specifics of the impending legislation, it is expected to encompass robust measures to mitigate risks associated with digital currencies. This includes enhanced scrutiny to prevent their misuse of illicit activities such as money laundering and financing of terrorism.

The FATF had previously highlighted “serious shortcomings” in Turkey’s financial regulatory environment. Notably, the country was urged to augment its mechanisms for freezing assets tied to terrorism and weapons of mass destruction proliferation back in 2019.

Bitcoin BTC BTCUSDT Crypto
BTC’s price trends to the upside on the daily chart. Source: BTCUSDT on Tradingview

Turkey Aims To Address International Concerns On Money Laundering

Turkey’s stance on tightening crypto regulations signals a commitment to international cooperation and financial security. However, the country is giving up on its potential to become a safe harbor for the nascent industry.

If successful, this legislative overhaul could mark a significant milestone in Turkey’s journey to bolster its financial resilience and re-establish its standing in the global financial community.

By addressing the vulnerabilities associated with crypto-assets, Turkey not only aims to satisfy the FATF’s requirements but also to enhance the overall safety and integrity of its financial landscape.

As Bitcoinist reported, Turkey’s evolving stance on cryptocurrencies marks a significant shift in its regulatory approach, contrasting sharply with its previous ambitions to establish itself as a digital asset hub.

In 2022, Turkey was actively working towards becoming a financial center for cryptocurrencies, leveraging the growing interest and bullish sentiment amongst its residents, even in the face of a global bear market in the sector.

This enthusiasm, driven largely by the country’s high inflation rates, led to widespread crypto adoption and the hosting of major industry events, including Istanbul Blockchain Week and the Blockchain Economy Istanbul 2022 Summit.

Ismail H. Polat, a media lecturer at Kadir Has University in Istanbul, highlighted the integral role of inflation in driving the country’s crypto transactions. The Turkish blockchain community, comprising Web3 startups, academics, and digital investors, remained resilient and saw the bear market as an opportunity to “fortify and expand the crypto ecosystem.”

Efforts were made to bring DevCon7, a prominent Ethereum event, to Istanbul, indicating the community’s proactive approach and commitment to the digital asset space. Despite these advancements and the unwavering trust in crypto, the Turkish government’s recent decision to tighten regulations signals a 180-degree turn in its crypto policy.

This change is underscored by the need to address the FATF’s concerns and escape the grey list, necessitating clear and stringent regulations. Erkan Oz, a local economist, emphasized the importance of establishing a legal framework to protect digital asset investments and support the burgeoning blockchain and digital asset sectors. He also noted the slow institutional adoption of crypto in Turkey, attributing it to the lack of clarity and regulation in the ecosystem.

Related Reading: You Won’t Believe How Much Crypto Whistleblowers Made From The CFTC

The transition from an aspiring crypto hub to a more regulated environment illustrates Turkey’s delicate balancing act between fostering innovation and ensuring financial stability and security. The country’s crypto community, having actively participated in and contributed to the digital asset space, now finds itself at a crossroads, navigating the complexities of a shifting regulatory landscape.

Cover image from Unsplash, chart from Tradingview.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Reynaldo Marquez

Reynaldo Marquez

Follow

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Full Profile

Related Posts

Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

5 hours ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

7 hours ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

9 hours ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

9 hours ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

11 hours ago
Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

10 hours ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    25 minutes ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    35 minutes ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    4 hours ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    1 day ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.