Turkey's ruling party submits draft crypto bill to parliament, focusing on licensing and registration of crypto service providers

Odaily News Turkey's ruling party submitted a draft crypto bill to parliament, focusing on the licensing and registration of crypto service providers in line with international standards. According to Reuters, the draft bill aims to update existing laws to comprehensively manage the nascent cryptocurrency market. The main areas of focus of the bill include consumer protection, platform transparency, and compliance with financial regulations. The proposed regulations intend to regulate cryptocurrency trading platforms and other service providers in the field, requiring them to obtain a license from the Turkish Capital Markets Board. The draft law aims to regulate crypto asset service providers, crypto asset platform operations, crypto asset storage, and crypto asset purchase, sale and transfer transactions that Turkish residents can participate in. The legislation also addresses the classification of cryptocurrencies and projects, ensuring compliance with existing financial regulations. (Cointelegraph)