According to Foresight News, Turkey's Finance Minister Mehmet Şimşek informed the country's Planning and Budget Department that Turkey is in the 'final stage' of submitting cryptocurrency legislation to the parliament. This is the last step required to remove the country from the Financial Action Task Force (FATF) 'grey list'. Şimşek stated that Turkey has already complied with '39 of the 40 FATF standards'.
'Regarding technical compliance, the only ongoing preparation work is related to crypto assets, and Turkey's necessary efforts in this regard have entered the final stage,' he said. The FATF 'grey list' is considered a condemnation of strategic deficiencies in anti-money laundering and counter-terrorism financing systems. Turkey has been on the 'grey list' of the Paris-based global money laundering and terrorist financing watchdog since 2021.