RPT – Turkey’s crypto rules seen addressing licensing, taxation after boom

Turkey’s new rules to regulate the crypto market are likely to focus on licensing and taxation, sector officials say, as the world’s fourth-biggest crypto-trading country seeks to get off an international financial crime watchdog’s “grey list”. Ankara promised the regulations last month amidst a years-long boom in crypto trading, as soaring inflation and a plunging lira currency drives a demand for alternative assets.

Turkey is also seeking to address concerns raised by Paris-based financial watchdog The Financial Action Task Force (FATF), which placed the country on its so-called grey list of countries at risk of money laundering and other financial crimes in 2021.