The cryptocurrency legislation proposal was submitted to the Grand National Assembly of Turkiye today. AK Party Group Chairman Abdullah Guler and AK Party Deputy Chairman Omer Ileri shared the details of the bill at a press conference held at 3.30 p.m. yesterday.
Guler’s statements in the press release, “The activities of crypto asset service providers operating abroad are terminated with the transition period.” confused. This was interpreted as a ban on platforms abroad, especially Binance Global.
“Turkish citizens are not banned from trading on foreign platforms”
After the information overload following the press conference, Omer Ileri made a second statement. İleri stated that there is no ban on Turkish citizens trading on foreign platforms. İleri used the following statements:
“There is no ban on Turkish citizens trading on foreign platforms. There is no obstacle for Turkish residents to open accounts on foreign platforms on their own initiative. However, activities of foreign platforms such as opening a Turkish website and making advertisements for Turkish residents will be subject to the CMB license.”
According to Ileri’s latest statement, transactions will be possible on foreign exchanges such as Binance Global. These platforms will be subject to a CMB license to open a Turkish website and advertise to Turkish residents. Binance also has a long-established company in Turkiye. It is stated that this article will not affect Binance.
The proposal, which was sent to the Planning and Budget Commission yesterday, will be discussed at the General Assembly of the Turkish Grand National Assembly on May 30.