After SEC’s approval on Bitcoin ETF trading, the first question that came to mind was crypto regulations. Last year, Europe launched MiCA the first draft of the regulations. MiCA’s vision and rules get preliminary approval from the European Union. After MiCA’s approval, the SEC spokesperson said they wanted to make the crypto market safer and more secure.

While Europe and the USA are taking giant steps in this regard, Turkey is not lagging behind. Minister Mehmet Şimşek made a statement about regulating crypto. He said:

“Crypto regulations are ready. The parliament is reviewing it. I believe it will most likely come out after the election.”

Mehmet Şimşek’s previous statements on the draft law were as follows:

“Definitions of crypto asset, wallet, crypto asset service provider, crypto asset custody service and crypto asset trading platform were included in line with international regulations. He pointed out that the Turkish Central Bank and MASAK already have regulations in this regard. With these regulations, we have the opportunity to have information on issues such as transactions and transfers on platforms, but of course we need to do more than that.”

The Turkish crypto community is popular and sizable in the market. Market research shows that the Turkish community is one of the top 5 communities worldwide.

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