Turkey in 2010 She plans to develop a crypto framework by 2024.
The 2024 Presidential Annual Program of Turkey, published in the Official Gazette of the Republic of Turkey on October 25, aims to complete crypto regulations in the country in the 2024 calendar year.
Section 400.5 of the nearly 500-page document outlines studies intended to determine crypto assets, which can then be appropriately taxed. Providers of Crypto assets such as crypto exchanges are also given a legal definition. However, the document does not contain any other details about future regulations.
In September 2023, Faruk Fatih Ozer, the former CEO of Turkish crypto exchange Todex, was sentenced to 11,196 years in prison by a Turkish court. Todex, one of the largest trading platforms in the country, suddenly happened in 2021.
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In the year In a 2022 study, Turkey was the second country in the world in terms of crypto-related search queries, accounting for 5.5% of the population. In 2021, the country saw an eleven-fold increase in the use of crypto during the crisis of the domestic fiat currency, the Turkish lira.
In the year In December 2022, the Central Bank of the Republic of Turkey completed the first trial of the digital lira, the central bank's digital currency, and revealed plans to continue the trial in 2024. And the government still hasn't made any commitment to the final digitization. From the country's currency, Turkish President Recep Tayyip Erdogan has repeatedly supported the digital lira project.
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