Discussions on Crypto Exchanges Continue in Turkey

Discussions on crypto exchanges continue in Turkey. AK Party Group Deputy Chairman Elitaş met with the officials of BTCTurk, Binance and Paribu.

According to the information obtained, the officials listed their proposals for regulating the crypto market in Turkey, and said, "There should be no taxation for cryptocurrency users; we already pay tax for every transaction they make as crypto currency exchanges. Foreign exchanges are not subject to any taxation at the moment. The problem needs to be resolved urgently. In addition, a minimum capital requirement should be imposed on foreign exchanges, the system infrastructure of these exchanges should be established in Turkey and it should be ensured that they are accountable in this way." At the meeting, it was stated that the most important difficulty in the study of the law would be the regulation on "how to store crypto assets". "The technological infrastructures of the cryptocurrency exchanges hide the coins you buy. It is necessary to train bureaucrats with the technical knowledge to set the rules." Elitaş, who met with the officials of Turkey's three largest cryptocurrency exchanges in the Parliament the previous day, listened to the demands and suggestions. Crypto exchange officials made the following assessments: "Currently, since the market is not legally regulated, everyone can enter the crypto world by waving their hands. There are too many phenomena around telling what users should buy and sell. This situation may cause greater grievances in the coming period than what has happened so far. Foreign exchanges do not follow any rules in Turkey. It accepts users without being subject to rules, paying taxes, and having no obligation to MASAK. In the current situation, the state cannot access data about any foreign exchange at any time."