Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2025

Daily Sabah - Latest & Breaking News from Turkey | Istanbul

  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

‘Turkey’s cryptocurrency law soon to be debated in Parliament’

by DAILY SABAH

ISTANBUL Dec 24, 2021 - 5:25 pm GMT+3
A representation of the cryptocurrency Binance Coin, the native token of the cryptocurrency exchange, is seen in this illustration taken on Nov. 29, 2021. (Reuters Photo)
A representation of the cryptocurrency Binance Coin, the native token of the cryptocurrency exchange, is seen in this illustration taken on Nov. 29, 2021. (Reuters Photo)
by DAILY SABAH Dec 24, 2021 5:25 pm

Turkey will soon take steps regarding cryptocurrencies, which have become an issue of concern for many governments and central banks.

A law on cryptocurrencies is ready and will soon be discussed at the national assembly, President Recep Tayyip Erdoğan said Friday during a meeting with the press in Istanbul where he also made statements on Turkey’s new economy model and finance model.

The country has already been accelerating its work on regulations for the digital tokens’ market, particularly after two cryptocurrency exchanges collapsed in April.

The government is looking to establish a central custodian bank to eliminate counterparty risk, a Bloomberg report said at the time, citing a senior official familiar with the plans.

The collapse of Thodex and Vebitcoin, among the country’s largest trading platforms, dealt a major blow to hundreds of thousands of Turkish cryptocurrency investors, who were unable to access millions of dollars’ worth of digital assets after the exchanges went down.

Authorities are also said to be pondering a capital threshold for exchanges and education requirements for executives at such firms, the official told Bloomberg.

The already growing crypto boom in Turkey further gained pace throughout the year as investors joined a global rally in Bitcoin, hoping to gain from the cryptocurrency’s rise to shelter against inflation.

Central Bank of the Republic of Turkey (CBRT) Governor Şahap Kavcıoğlu also said previously the Treasury and Finance Ministry is working on wider regulations regarding cryptocurrencies, adding that the bank does not intend to ban them.

  • shortlink copied
  • KEYWORDS
    cryptocurrency turkey crypto market recep tayyip erdoğan
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Eternal journey: 750th death anniversary of Rumi
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • DS TV
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021