ChainCatcher news, according to Cointelegraph, the Turkish Ministry of Finance plans to implement stricter cryptocurrency regulations to combat money laundering and financial crime. The new regulations require crypto platforms to collect information on the source and purpose of each transfer, and users must provide a transaction description of at least 20 characters. Additionally, most withdrawals will be subject to a 48-hour delay, while first-time withdrawals will need to wait 72 hours.The new regulations will also set limits on stablecoin transfers: ordinary users will have a daily limit of $3,000 and a monthly limit of $50,000; platforms that fully comply with the "travel rule" can enjoy double limits. Transfers related to liquidity provision, market making, and arbitrage may be exempt from these restrictions under platform monitoring.

ChainCatcher news, according to Jinshi Data reports, sources say that Trump received a call from Turkish President Erdogan while attending the G7 summit in Canada last Monday. Erdogan proposed holding talks between U.S. and Iranian officials the next day in Istanbul to explore a diplomatic solution to the war. Trump agreed and told Erdogan that he was willing to send Vice President Pence and White House envoy Hook to go, and even if necessary, he was willing to go to Turkey personally to meet with the Iranian president.A White House official stated that just hours before Erdogan's call, Trump had already received "signals" through other secret channels that the Iranians wanted to meet. Erdogan and the Turkish Foreign Minister then conveyed this proposal to Iranian President Pezeshkian and Iranian Foreign Minister Zarif. Pezeshkian and Zarif attempted to contact Iran's Supreme Leader Khamenei for approval but were unable to reach him as he had gone into hiding to avoid an Israeli assassination.A few hours later, the Iranians informed the Turks that they had not received approval. Turkey then informed the U.S. that the talks were canceled. Shortly thereafter, Trump posted on social media, calling for everyone to evacuate Tehran immediately! This Saturday, Erdogan met with Iranian Foreign Minister Zarif in Istanbul and urged him to hold direct talks with the Trump administration. Erdogan told Zarif that Turkey was ready to facilitate such negotiations as soon as possible.

ChainCatcher news, according to Jinshi reports, the Turkish Foreign Minister stated that he believes Ukraine and Russia will reach an agreement in the coming days.

ChainCatcher news, according to Cointelegraph, Turkey is advancing cryptocurrency regulation, formulating new rules for crypto asset service providers (CASPs).The Turkish Capital Markets Board (CMB) today released two regulatory documents regarding CASP licensing and operations, covering crypto trading platforms, custodians, and wallet service providers. This regulatory framework grants the CMB comprehensive oversight of crypto platforms to ensure compliance with domestic and international standards.Additionally, the framework sets the standards and requirements for establishing and providing crypto asset services in Turkey, including registered capital, management background, shareholder rules, and more.

ChainCatcher news, according to Cointelegraph, Turkey's digital bank BankPozitif is set to collaborate with Swiss crypto platform Taurus to launch cryptocurrency custody services, becoming the latest financial institution in Turkey to embrace digital assets.Currently, the two parties have established a strategic partnership, allowing their institutional clients to store crypto assets at the bank.

ChainCatcher news, Turkey's Garanti BBVA subsidiary Garanti BBVA Kripto announced a partnership with Luxembourg-based cryptocurrency exchange Bitstamp to provide crypto trading services for its customers.This collaboration marks Garanti BBVA Kripto's first liquidity provider partnership since its establishment in May 2023. The agreement designates Bitstamp as the primary liquidity provider for the platform, allowing access to various digital assets through its Bitstamp-as-a-Service solution. The initiative aims to combine traditional financial services with Turkey's rapidly growing cryptocurrency industry.

ChainCatcher news, according to Cointelegraph, Turkey is set to launch new cryptocurrency regulatory legislation in the last week of 2024, inspired by the proactive regulatory developments in major jurisdictions around the world, including Europe.According to the published document, the new rules require users conducting transactions exceeding 15,000 Turkish Lira (approximately 425 USD) to provide their identity information to cryptocurrency service providers in the country.This new Anti-Money Laundering (AML) regulation aims to prevent money laundering and the financing of terrorism through cryptocurrency transactions, and it will come into effect on February 25, 2025.

ChainCatcher news, Swiss digital asset company Taurus will expand into Turkey.Taurus stated that the establishment of the new office is due to the new digital asset regulatory framework. This expansion is also expected to build on the foundation of its Dubai operations and create a strategic corridor connecting the European, Middle Eastern, and Asian markets. It has already established relationships in the Turkish market, including a partnership with Turkey's first new bank, Misyon Bank, to provide asset custody and tokenization services.Taurus Managing Director Bashir Kazour stated that they already have three banking clients in Turkey, and now they will be able to better serve their expanding client base.

ChainCatcher news, cryptocurrency exchange Coinbase has withdrawn its pre-application to enter the Turkish cryptocurrency market, and the reason for the withdrawal is still unclear. Turkey's financial regulators have updated the list of companies applying for clearance, confirming that Coinbase has withdrawn its application. Bitfinex, Bitbns, Bitlo, OKX, and Rain Software are still seeking opportunities in Turkey by providing custodial services through their applications.

ChainCatcher news, according to Crowdfund Insider, the Gemini 2024 Global Cryptocurrency Report shows that UK crypto asset holders remain "unaffected" by market pressures, with 93% of existing cryptocurrency holders likely to purchase cryptocurrencies in the coming year. The proportion of UK holders owning cryptocurrencies remains stable at 18% in 2024, the same as two years ago.In addition, the cryptocurrency sell-off rate in the UK this year is relatively low, with only 15% of holders selling cryptocurrencies in the past six months, a figure lower than that of the US, France, and Turkey. UK cryptocurrency holders demonstrate a commitment to this asset class, with 59% willing to allocate at least 5% of their portfolios to cryptocurrencies, which is 2% higher than the global average.However, UK respondents continue to express concerns about the need for a "clear" regulatory framework for digital assets, with 49% stating that clearer government regulation would enhance trust.

ChainCatcher news, according to Cointelegraph, a survey report shows that some investors in Turkey now prefer cryptocurrencies over traditional investment options such as real estate and stocks.56% of survey participants indicated that gold is their preferred choice for saving or investing. Foreign currency ranked second, followed by cryptocurrencies, with 30% of investors preferring cryptocurrencies, real estate at 26%, and stocks at 18%.

ChainCatcher news, Turkey's Garanti BBVA Bank launched Garanti BBVA Digital Assets last year as part of its fintech subsidiary. The company launched its wallet in June and has now confirmed it is using a combination of Ripple Custody and IBM's technology.Garanti BBVA has updated the status of its digital asset products. Garanti BBVA Kripto CEO Korcan Abalı stated, "We have seen a clear demand and growing interest from customers in digital assets. To meet this demand, we established Garanti BBVA Digital Assets in 2023, currently providing services under the name Garanti BBVA Kripto for BTC, ETH, USDC, AVAX, CHZ, XRP, ARB, and SOL."So far, it has 14,000 digital asset customers, serving a main bank of 12 million digital customers and 11.6 million mobile customers.

ChainCatcher news, according to Bloomberg, Tether Holdings Ltd. is attempting to persuade Turkey to use digital assets to completely reform the country's boron market, marking the latest sign of the cryptocurrency industry's efforts to leverage the commodities sector for further growth. Sources revealed that the stablecoin issuer Tether proposed to government officials the creation of digital tokens representing borate minerals using blockchain technology. Tether also suggested the idea of establishing a digital asset exchange in Istanbul. A Turkish government official stated that the boron proposal is currently not feasible, while an official from Turkey's Ministry of Energy indicated that negotiations with Tether are still in the early stages.It is reported that boron products are primarily used in the manufacture of ceramics, detergents, fertilizers, and glass. Turkey's monopoly supplier, the state-owned Eti Maden General Directorate, estimates that the country's boron reserves account for over 70% of the world's total reserves.

ChainCatcher news, according to Bloomberg, Tether Holdings Ltd. is attempting to persuade Turkey to use digital assets to completely reform the country's boron market, marking the latest sign of the cryptocurrency industry's efforts to leverage the commodities sector for further growth.Informed sources revealed that the stablecoin issuer Tether has proposed to government officials the creation of digital tokens representing borate minerals using blockchain technology. Tether has also suggested the idea of establishing a digital asset trading platform in Istanbul.A Turkish government official stated that the boron proposal is currently not feasible, while an official from Turkey's Ministry of Energy indicated that negotiations with Tether are still in the early stages. It is reported that boron products are primarily used in the manufacture of ceramics, detergents, fertilizers, and glass. Turkey's monopoly supplier, the state-owned Eti Maden General Directorate, estimates that the country's boron reserves account for over 70% of the world's total reserves.

According to ChainCatcher news, Turkey has decided not to proceed with new taxes on stock market and cryptocurrency gains, as stated by Vice President Cevdet Yilmaz. Although it had been discussed previously, the plan has been abandoned, and the government is now focusing on reducing tax exemptions. This shift stems from concerns about the stock market and broader efforts to stabilize the economy and reduce inflation.

ChainCatcher news, according to Bloomberg, Turkish Vice President Cevdet Yilmaz stated that Turkey has decided not to advance additional tax proposals this year, which would impose capital gains tax on stock trading and cryptocurrency. Yilmaz said, "There is no stock tax on our agenda. We discussed this issue before, but it was not included on the agenda later. Officials will focus on narrowing the tax-exempt scope in the near future." Earlier this year, the initial plan to impose capital gains tax on the stock market put pressure on the stock market. After facing strong public opposition, Turkish Finance Minister Mehmet Simsek stated in June that this work would be "reassessed."

ChainCatcher news, according to Cointelegraph, the cryptocurrency landscape in Turkey is undergoing a significant shift as major companies like Coinbase and KuCoin join the competition for the country's operating licenses. Following an update to the regulatory framework by the Capital Markets Board of Turkey (CMB), the number of applications has surged. Initially, 47 crypto companies applied for licenses under the new regulatory framework, which has now expanded to 76, including new entrants like Coinbase, KuCoin, and Gate.io.Previously recognized entities such as Binance, Bitfinex, and OKX have also participated in the application process. Despite these advancements, the CMB clarified that being listed on the "operating companies list" does not equate to obtaining official authorization. Each company still needs to receive formal approval from the board, which depends on the issuance of secondary legislation. The list will be updated as companies address regulatory deficiencies or as the CMB concludes its investigations.Turkey's Minister of Finance and Treasury, Mehmet Simsek, stated in January that local cryptocurrency legislation is nearing completion, but the anticipated draft has yet to be submitted to parliament. This regulatory uncertainty has not deterred businesses from seeking licenses, reflecting the industry's optimism and the country's strategic importance in the global cryptocurrency market. This wave of applications emerged following the implementation of the Capital Markets Law Amendment, which took effect on July 2. The law aims to provide a regulatory framework for cryptocurrency service providers in Turkey.According to data from Chainalysis, Turkey is the fourth-largest cryptocurrency market in the world, with an estimated trading volume of $170 billion. This trading volume positions Turkey ahead of significant markets such as Russia, Canada, Vietnam, Thailand, and Germany.