Turkey plans to craft crypto framework in 2024
The 2024 Turkish Presidential Annual Program, published on Oct. 25 in the Official Gazette of the Republic of Turkey, aims to finalize crypto regulations in the country within the calendar year of 2024.
Article 400.5 of the almost 500-page document reveals the planned studies to define crypto assets, which might be taxed appropriately afterward. Crypto asset providers, such as crypto exchanges, will also be given a legal definition. However, the document contains no other details on the future regulations.
In September 2023, the former CEO of Turkish crypto exchange Thodex, Faruk Fatih Özer, was sentenced to 11,196 years in prison by a Turkish court. Thodex, which was one of the largest trading platforms in the country, abruptly imploded in 2021 .
Related: Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey
According to a 2022 study, Turkey was the second nation in the world in terms of crypto-related search requests, with 5.5% of the population making them. The country saw an elevenfold rise in crypto use in 2021 amid the ongoing inflation crisis of the local fiat currency, the Turkish lira.
In December 2022, the Central Bank of the Republic of Turkey completed the first trial of its central bank digital currency, the digital lira, and has signaled plans to continue testing throughout 2024. And while the government has still made no commitment to the ultimate digitalization of the country’s currency, Turkish President Recep Tayyip Erdoğan has repeatedly supported the digital lira project.
Magazine: The Truth Behind Cuba’s Bitcoin Revolution. An on-the-ground report
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP Recovers, Cardano Faces Resistance, and BlockDAG’s X1 Miner App Hits 1.5M Users As Early Adoption Skyrockets
XRP sees steady recovery and Cardano stays under pressure, but BlockDAG’s 1.5M active miners may signal a high-growth crypto in the making. Discover why BDAG could become a top 10 crypto by 2025.BlockDAG’s X1 Miner Surpasses 1.5 Million Users as Adoption Surges Pre-LaunchCardano (ADA) Bearish Pattern May Mask Underlying Setup for RecoveryFinal Analysis

BlockDAG’s $0.0018 Price Shakeup: Is This the Best Crypto to Buy in 2025 Before Time Runs Out?
BlockDAG slashes presale price to $0.0018, its lowest since Batch 1. With $290M already raised and a $0.05 launch target, the top crypto to buy in 2025 might just be this one. Offer ends June 13.Back to the Start: Lowest Pricing Since Batch 1 and Possibly the Final TimeWhy $0.05 Is Just the Start: The ROI Case That’s Capturing AttentionScarcity Heats Up as June 13 Deadline NearsFinal Thoughts: A Second Chance That Rarely Comes in Crypto

Ethereum ETFs Record 15 Days of Bullish Inflows
U.S. spot Ethereum ETFs see 15 consecutive days of inflows, surpassing $837 million in total investments.Ethereum’s Institutional Appeal RisesWhat This Means for Ethereum’s Future

Velo ($VELO) Eyes 260% Surge from Key Support
Velo ($VELO) may be poised for a 260% rally as it finds strong support near current levels.A 260% Upside Target at $0.048More Gains Ahead?

Trending news
MoreCrypto prices
More








