Turkish Finance Minister: Will submit a legal proposal on cryptocurrency assets to the parliament as soon as possible

2023-11-01 15:33:50

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ChainCatcher news, according to CoinDesk, Turkey's Finance Minister Mehmet Şimşek told the Turkish Planning and Budget Committee that Turkey is in the "final stage" of submitting cryptocurrency legislation to Parliament, which is the last step to remove Turkey from the Financial Action Task Force (FATF) "grey list."

Turkey has been on the "grey list" of the Paris-based global watchdog for money laundering and terrorist financing (FATF) since 2021, which has severely damaged confidence in the Turkish economy, already overshadowed by high inflation, making cryptocurrency very popular, "essentially becoming a savior."

Simsek stated that Turkey has "complied with 39 out of the FATF's 40 standards." "We will submit a legal proposal on crypto assets to Parliament as soon as possible." After this, if there are no other political considerations, Turkey will have no reason to remain on the grey list.

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