Turkey aims to be removed from the FATF “grey list” by developing regulations for digital assets, according to Reuters.
Finance Minister Mehmet Şimşek stated that the country has already met 40 of the organization’s standards, except for those concerning cryptocurrency.
Şimşek plans to present proposals to parliament in order to satisfy these remaining standards and potentially remove Turkey from the list.
He did not disclose any further details about the proposed changes. Bloomberg reports that these preparations could begin as early as May 2022.
In 2021, Turkey faced issues with two cryptocurrency exchanges, Thodex and Vebitcoin, going bankrupt, which prompted authorities to impose stricter measures such as mandatory user verification and reporting of transactions over $1,200.
