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 TÃBÄ°TAK will obtain certain rates of income from crypto service providers. CMB and TÃBÄ°TAK will receive 1% of these revenues from crypto service providers.
This bill is expected to increase Tü;rkiye'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.
#cmb-supervision #licensing-scheme #international-standards-compliance #cryptocurrency-regulations #fatf
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