🌐 Is Turkish Crypto Regulation on the Horizon?

M. Şimsek's interview and beyond

Hello everyone,

Here are some local discussions for you. In a recent interview with the Minister of Treasury and Finance, Mehmet Şimşek, some insights were shared regarding the anticipated crypto asset law draft. I had previously mentioned in my CoinDesk articles and my web3 brew newsletter that we were expecting the crypto asset law draft, which has been in the works since 2020, to come into effect in 2024. Both the Medium-Term Program (OVP) and Şimşek's statements seem to confirm this.

Budget Priorities and Global Trust: The Challenges Ahead

Due to budget priorities in the last quarter of 2022 and the 2023 election agenda, efforts on the Data Protection Law (KVKK), Digital Markets Act (DMA), and crypto asset regulations had stalled. During this time, global trust in the crypto industry declined, further contributing to the delay. Major legal cases involving entities like Tether and FTX led to a wait-and-see approach in many countries, with regulators saying, "Let's wait for decisions i…