NEW: Turkey Aims to Finalize Crypto Regulations by 2024

The 2024 Turkish Presidential Annual Program, released on October 25th, sets forth the goal of establishing comprehensive cryptocurrency regulations in Turkey by the end of 2024. Article 400.5 of the document outlines plans to define and potentially tax crypto assets, along with providing legal definitions for crypto asset providers. However, specific details on these forthcoming regulations are yet to be disclosed. This move follows heightened interest in cryptocurrencies in Turkey, driven in part by inflation concerns and previous high-profile incidents in the country’s crypto industry.

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