Turkey Prepares New Crypto Law to Align With International Standards

[pinggoki]

I think there are several reasons why Turkey drafted this law. Firstly to protect against fraud and market manipulation, secondly to ensure crypto trading is not used for illegal activities such as money laundering and terrorism financing. As far as I know, previously Turkey already had several crypto regulations. These regulations include obligations for crypto exchanges to register with the government and comply with anti money laundering (AML) and counter financing terrorism (CFT) regulations. However, this regulation does not regulate crypto trading in detail, such as trading mechanisms, investor protection, and taxation. So a new crypto law was created that regulates it in more detail. Moreover, this is also an effort to get Turkey off the gray list of financial crime watchdogs.

If you read the whole thing, you would never be speculating for the reasons why they drafted this law, although I can see that it's the same thing as the real reason. It's always been the case with this kind of events or legislations, they want to make something clear so they can properly uphold the law. I feel like the other reason why they want to get out of the gray list is probably because they're planning something that would involve some big spending and they probably want to ask for a really big loan to fund those big spending projects, I just hope that the Turkish masses would benefit in all of those motives. I hope that more countries would follow what Turkey's doing right now, cryptocurrency adoption is an inevitable thing, it's more expensive and tiring for most government to stop them rather than adapt to the changes.

[Lucius]

You are right that in Turkey the cryptocurrency law exists only on paper. I have already realized why there is no such law in Russia

You don't have to say that I have a negative attitude towards Europe. Europe has always had countries with deficit budgets, and now these countries have been deprived of cheap gas and other raw materials. In a market economy it will be hard for these countries without cheap loans and support.

You cannot escape from what you are, and that is to repeat the same things that your politicians persistently repeat - and that is that the EU will fail because there is no cheap oil, gas or anything else from Russia. But no one in the EU has frozen, no one drives cars less than before and no one is too affected by the lack of trade with Russia. In addition, there is enough money - since the beginning of your country's aggression against Ukraine, the EU has sent aid of more than EUR 88 billion and the aid will continue to arrive in the future because the average person understands that the EU is defending itself in Ukraine.

Regarding laws, I also have laws in my country that are supposed to prevent money laundering, but that doesn't stop anyone from buying and selling cryptocurrencies without KYC completely legally in physical exchanges. Laws are often just a dead letter on paper.

[zasad@]

You are right that in Turkey the cryptocurrency law exists only on paper. I have already realized why there is no such law in Russia

You don't have to say that I have a negative attitude towards Europe. Europe has always had countries with deficit budgets, and now these countries have been deprived of cheap gas and other raw materials. In a market economy it will be hard for these countries without cheap loans and support.

You cannot escape from what you are, and that is to repeat the same things that your politicians persistently repeat - and that is that the EU will fail because there is no cheap oil, gas or anything else from Russia. But no one in the EU has frozen, no one drives cars less than before and no one is too affected by the lack of trade with Russia. In addition, there is enough money - since the beginning of your country's aggression against Ukraine, the EU has sent aid of more than EUR 88 billion and the aid will continue to arrive in the future because the average person understands that the EU is defending itself in Ukraine.

Regarding laws, I also have laws in my country that are supposed to prevent money laundering, but that doesn't stop anyone from buying and selling cryptocurrencies without KYC completely legally in physical exchanges. Laws are often just a dead letter on paper.

Any attempts to talk about the economy you try to lead into a discussion of the war. I'm not saying Europe will freeze or people will stop driving cars. Europe will start to lose markets and production because in a competitive world you need cheap resources. You don't want to realize that the purpose of this war is to weaken Europe's economic influence. That's one of the goals of the United States.

I'm talking about the economy. Many European experts said that Russia's economy would collapse. But the paradox is that Russia's economy is much better now than it was before the special military operation.

[Lucius]

~snip~
I'm talking about the economy. Many European experts said that Russia's economy would collapse. But the paradox is that Russia's economy is much better now than it was before the special military operation.

If you want to believe in fairy tales told to you by someone who sends hundreds of people to their deaths every day, then that is your choice and the majority of your people. The Russian economy is kept afloat precisely because of the war machinery that functions according to war standards - and you still call the occupation of an independently recognized country a "special military operation" that lasts more than 2 years - it is not a military operation at all, but a brutal bloody war with the aim of conquering territory and ethical cleansing.

A bloody economy is not something to be proud of - what a smart man is ashamed of, a fool is proud of - so says an old saying.

[mindrust]

~snip~
I'm talking about the economy. Many European experts said that Russia's economy would collapse. But the paradox is that Russia's economy is much better now than it was before the special military operation.

If you want to believe in fairy tales told to you by someone who sends hundreds of people to their deaths every day, then that is your choice and the majority of your people. The Russian economy is kept afloat precisely because of the war machinery that functions according to war standards - and you still call the occupation of an independently recognized country a "special military operation" that lasts more than 2 years - it is not a military operation at all, but a brutal bloody war with the aim of conquering territory and ethical cleansing.

A bloody economy is not something to be proud of - what a smart man is ashamed of, a fool is proud of - so says an old saying.

Bruh the US’s own economy mostly depends on arms manufacturing. When the US is the biggest arms dealer of the world and created many fake wars in the middle east to sell guns, excuse me but wtf are you talking about? You don’t think the US sells all those guns, missiles and helicopters to sit in the hangars do you?

The way I see it, The US wanted another war in the north and they got one. Russia is getting richer, the US is getting richer, the Ukrainans are dying and the Europeans are getting poorer. Looks like everyone is happy. (Except for the Ukrainians)

[zasad@]

~snip~
I'm talking about the economy. Many European experts said that Russia's economy would collapse. But the paradox is that Russia's economy is much better now than it was before the special military operation.

If you want to believe in fairy tales told to you by someone who sends hundreds of people to their deaths every day, then that is your choice and the majority of your people. The Russian economy is kept afloat precisely because of the war machinery that functions according to war standards - and you still call the occupation of an independently recognized country a "special military operation" that lasts more than 2 years - it is not a military operation at all, but a brutal bloody war with the aim of conquering territory and ethical cleansing.

A bloody economy is not something to be proud of - what a smart man is ashamed of, a fool is proud of - so says an old saying.

What are you proud of?
Americans have been sponsoring wars around the world for years.
https://bitcointalk.org/index.php?topic=5441385

The high standard of living in the major European countries was high because they colonized half the world and lived off of it. You also want to divide Russia into small countries and live off that. Not you personally, your politicians say that. There are dozens of other wars going on in the world in parallel with more horrible losses, but you only blame Russia.