Türkiye has introduced a legislative proposal aimed at reducing the risks of parties transacting with crypto assets in the country. The proposal has been presented to the parliament.

The bill, introduced by ruling party chairman Abdullah Güler, includes various regulations regarding crypto assets and will be implemented by the Capital Markets Board (CMB).

This proposal establishes important rules regarding crypto service providers and increases the CMB’s supervision over them.
The bill aims to introduce a licensing scheme for crypto firms, which will be handled by the CMB and bring the firms under the regulator's scope.

To protect customers, the scope of inspections for crypto providers will also be expanded

Although there is no provision regarding taxation in the bill, CMB and TÜBİTAK will obtain certain rates of income from crypto service providers. CMB and TÜBİTAK will receive 1% of these revenues from crypto service providers.
The Scientific and Technological Research Institution of Türkiye (TÜBİTAK) is a national agency of the country whose stated goal is to develop “science, technology and innovation” policies, support and conduct research and development.

This bill is expected to increase Türkiye’s compliance with international standards regarding crypto assets, eliminate criticism from the Financial Action Task Force (FATF) and make the country’s crypto ecosystem safer.


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