Turkey mulls addressing licensing and taxation in new crypto rule

Turkey is reportedly considering regulations for its crypto market, focusing on licensing and taxation. The aim is to remove the country from the “gray list” of an international financial crime watchdog, as Turkey ranks fourth globally in crypto trading.

According to a Reuters report, Bora Erdamar, a director at the BlockchainIST Center, a blockchain technology research and development center, said the upcoming crypto regulations will prioritize implementing specific licensing standards to prevent system abuse. Erdamar added that the regulations may encompass factors like capital adequacy standards, enhancements in digital security, custody services, and verification of…

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