Fun

News Feed - 2023-11-01 05:11:07

Amaka Nwaokocha8 minutes agoTurkey aims to shed FATF gray list status with new crypto regulationsFinance Minister Simsek reportedly stated that the sole outstanding technical compliance matter is crypto assets.37 Total viewsListen to article 0:00NewsJoin us on social networksTurkey is reportedly drafting fresh regulations to govern crypto-assets in an effort to convince the Financial Action Task Force (FATF), an international organization responsible for combating financial crimes, to remove it from a “gray list” of nations that have not done enough to combat money laundering and terrorist financing.


Notably, the FATF placed Turkey on its gray list in 2021. According to a report, during a discussion with a parliamentary commission on Oct. 31, Turkish Finance Minister Mehmet Simsek mentioned that a FATF report determined that Turkey adhered to all but one of the 40 standards set by the watchdog.


Finance Minister Simsek reportedly stated that the sole outstanding matter for technical compliance is related to crypto assets. He cited plans to propose a crypto-assets law to parliament, aiming to exit the gray list, pending any political factors. No specifics on the legal changes were provided.


The FATF, established by the G7 advanced economies to safeguard the international financial system, cautioned Turkey in 2019 about significant deficiencies. These included the necessity to enhance procedures for freezing assets associated with terrorism and the proliferation of weapons of mass destruction.


Related:Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey


Nevertheless, the Turkish Presidential Annual Program for 2024, released on Oct. 25 in the Official Gazette of the Republic of Turkey, sets the objective of completing cryptocurrency regulations in the country by the end of 2024. Article 400.5, found within the comprehensive 500-page document, outlines the intended efforts to establish clear definitions for crypto assets, potentially subject to taxation in the future.


The document also intends to legally define crypto asset providers like cryptocurrency exchanges. However, it does not provide further specifics on the upcoming regulatory framework. By December 2022, the Central Bank of the Republic of Turkey had successfully conducted the initial trial of its digital currency, the digital lira. It has expressed intentions to pursue further testing into 2024.


Magazine:The Truth Behind Cuba’s Bitcoin Revolution. An on-the-ground report# Cryptocurrencies# Turkey# Digital Currency# Digital Asset# RegulationAdd reactionAdd reactionRead moreWSJ debacle fueled US lawmakers’ ill-informed crusade against cryptoFrom payments to DeFi: A closer look at the evolving stablecoin ecosystemBasel Committee to consider disclosure requirements for banks’ crypto assets

News Feed

Biggest Movers: MATIC Nears 3-Month High, as LINK Extends Recent Gains
Biggest Movers: MATIC Nears 3-Month High, as LINK Extends Recent Gains Polygon rose to its highest level since early November on Friday, as markets reacted to the latest U.S. consu
Binance Becomes Main Sponsor of Argentinian Soccer Association
Binance Becomes Main Sponsor of Argentinian Soccer Association Cryptocurrency exchange Binance has signed a partnership agreement with the Argentinian Soccer Association (AFA), one
Shiba Inu Soars Knocking Dogecoin Down a Notch — 20 Holders Own 75% of the SHIB Supply
Shiba Inu Soars Knocking Dogecoin Down a Notch — 20 Holders Own 75% of the SHIB Supply The meme-based digital asset shiba inu has entered the top ten largest crypto assets by mar
Bitcoin mining to boost UK’s renewable energy grid
Savannah Fortis10 hours agoBitcoin mining to boost UK’s renewable energy gridA UK-based Bitcoin organization is advocating to the new Labour government to implement a Bitcoin mining-based strategy to combat a growing p
Turner Wright3 hours agoOne less crypto-friendly candidate — Miami mayor ends US presidential runAlong with longshot Democratic hopeful Robert F. Kennedy Jr., Francis Suarez was one of the few openly crypto-friendly ca
Rakesh Upadhyay3 hours agoPrice analysis 8/30: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATICBitcoin and altcoins are struggling to hold the gains accrued earlier this week, a potential sign that the price breakout
Bitcoin Bull Market: Pundit Reveals When To Sell Everything
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
KPMG Expands Crypto Management Suite to Boost Institutional Adoption
KPMG Expands Crypto Management Suite to Boost Institutional Adoption KPMG’s cryptocurrency management suite has expanded with the company’s integrati
Binance sued in Canada for securities law violations
Helen Partz1 hour agoBinance sued in Canada for securities law violationsEven after Binance announced its departure from Canada in May 2023, local authorities have continued to investigate the exchange.1187 Total views2
Bitwise CIO ‘excited’ for a product that gives exposure to Ethereum DeFi
Brayden Lindrea3 hours agoBitwise CIO ‘excited’ for a product that gives exposure to Ethereum DeFiBitwise’s Matt Hougan said he has “extraordinary confidence” in the Ethereum ecosystem, hinting that a “great
Former Tesla, OpenAI exec founds ‘AI native’ education startup Eureka Labs
Alex O’Donnell4 hours agoFormer Tesla, OpenAI exec founds ‘AI native’ education startup Eureka LabsThe startup aims to create virtual teaching assistants using generative AI.545 Total views27 Total sharesListen to
Hollywood union deal with music giants guards against AI use
Amaka Nwaokocha50 minutes agoHollywood union deal with music giants guards against AI useThe proposed agreement with record labels mandates consent and compensation before releasing songs featuring digital replicas of ar