Turkey is reportedly drafting legislation to establish new rules for the crypto industry. cryptocurrency bitcoin $BTC
Turkey is drafting a bill to establish new rules for the crypto industry, Bloomberg reported last week, citing two unnamed Turkish officials familiar with the matter.
Under the new regulatory framework, companies would be required to have a minimum of 100 million liras in capital. In addition, global cryptocurrency exchanges would be mandated to open branch offices that can be taxed in Turkey. The authorities are also exploring ways to safely store cryptocurrencies.
Moreover, the government is also considering imposing a symbolic levy on crypto purchases, the publication added.the country’s ruling party to conduct a study on cryptocurrency and the metaverse.
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